Browsing Tag

black money

5 posts
A Thane homebuyer spent 14 years proving he didn't pay cash for his flat. The IT Department had a spreadsheet. ITAT had the last word.

Builder Confirmed No Cash, IT Department Didn’t Believe Homebuyer

A Thane homebuyer spent 14 years proving he didn’t pay cash for his flat. The IT Department had a spreadsheet. ITAT had the last word.
ITAT Mumbai has dismissed the tax department's claim of black money against F A Construction, holding that large cash withdrawals were legitimately used to pay daily-wage labourers at remote construction sites. The Tribunal quashed additions of over ₹35 crore under Section 69A, emphasizing documented bank sources and no adverse findings in remand — proving once again that cash-heavy sectors like construction often face initial suspicion that clears with proper evidence.

Taxman Says Builder Had Black Money, Turns Out He Was Paying Labourers in Cash

ITAT Mumbai has dismissed the tax department’s claim of black money against F A Construction, holding that large cash withdrawals were legitimately used to pay daily-wage labourers at remote construction sites. The Tribunal quashed additions of over ₹35 crore under Section 69A, emphasizing documented bank sources and no adverse findings in remand — proving once again that cash-heavy sectors like construction often face initial suspicion that clears with proper evidence.
IT Dept (income Taz department)

IT Dept carries out search operations on a Mumbai based real estate group

Income Tax Department (IT) conducted search operations on a real estate group…
black money

Black Money Deals Down 75-80% in Post DeMo era

Pre vs. Post DeMo – Black Money Deals Down 75-80%, Housing Sales Outstrip New…
Occupiers & developers step up towards net-zero journey

Real Estate 5 years After Demonetization

The impact of demonetization, compounded by RERA, GST and other reforms, has…