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ITAT Upholds 10% Income Estimation on Unaccounted Cash Receipts of Land Aggregators
Case Law Details
- Case Name
- ACIT Vs Bhoomika Agro Farms Pvt. Ltd. (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Hyderabad
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ACIT Vs Bhoomika Agro Farms Pvt. Ltd. (ITAT Hyderabad)
The Hyderabad ITAT disposed of a batch of Revenue appeals and assessees’ cross objections arising from separate but identical orders of the CIT(A)-12, Hyderabad dated 31.05.2023 for Assessment Years 2016-17 to 2021-22. Since the facts and issues were common, the Tribunal passed a consolidated order covering Bhoomika Agro Farms Pvt. Ltd., Sunshine Estate Construction India LLP, Krishi Housing Pvt. Ltd., Krishna Reddy Gujjula, and SLNS Agro Developers Pvt. Ltd.
The cases originated from a search and seizure operation u...
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