ITAT Mumbai Sends Builder’s ₹3 Cr On-Money & 43CA Dispute Back to CIT(A) for Fresh Hearing

Sumatinath Builders Vs ACIT (ITAT Mumbai)

A survey u/s 133A was conducted on 20.11.2014 in the case of M/s Sumatinath Builders. Incriminating documents (a “Blue Colour Chairman Spiral Pad”) revealed cash/on-money receipts of ₹2.99 crore. Partner Shri Dinesh Jain admitted the same as additional income for F.Y. 2014-15. Return was filed on 30.03.2016 declaring total income of ₹3.11 crore. AO selected case for limited scrutiny (creditors, interest, sales mismatch, etc.).

AO noted that Assessee had declared ₹3 crore on-money in survey. Since details of persons from who

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