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“on money receipt”

Cash Credits & Unexplained ItemsSection 69BSection 69B350 judgments

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. SHRI DEEPAK MOHANLAL PURSWANI, RAJKOT

ITA 665/RJT/2024[2022-23]Status: DisposedITAT Rajkot13 Mar 2026AY 2022-23
For Appellant: Shri Mehul Ranpura, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. SR. DR
Section 143(3)Section 147Section 250

facts as also\nin law in retaining addition of Rs 51,42,840/- by estimating profit at the 12% of so\ncalled on money receipt in respect of project \"RK Industrial Zone-16 The addition made\nand retained is bad in law as also on facts therefore the same ... with Accounting principles as per\nICDS-3 applicable to Real Estate Developers and also not appreciating that the income\non account of undisclosed on-money receipt was required to be assessed in the year of\nreceipt.\n(This is revenue's ground no. 2 in ITA No. 665/RJT/2024

DEEPAK MOHANLAL PURUSWANI,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 631/RJT/2024[2022-23]Status: DisposedITAT Rajkot13 Mar 2026AY 2022-23

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं/.Ita No.630 & 631/Rjt/2024 िनधा"रण वष"/ Assessment Year: (2021-2022 & 2022-23) Hybrid Hearing बनाम Shree Deepak Mohanlal Puruswani The Dcit, Cc-1 Rajkot Nr. Maa Krupa, 4- Saurashtra Kala Vs. Aaykar Bhawan “Amruta Estate”, Kendra Society, Opp. Nirmala Convent, Mg Road, Rajkot 360001, Kalawad Road, Rajkot-360001 "थायीलेखासं/.जीआइआरसं/.Pan No. : Ajvpp5139P .. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं/.Ita No.665/Rjt/2024 िनधा"रण वष"/ Assessment Year: (2022-23) बनाम The Dcit, Cc-1 Rajkot Shree Deepak Mohanlal Puruswani Aaykar Bhawan“Amruta Estate”, 2Nd Vs. Nr. Maa Krupa, 4- Saurashtra Kala Floor Mg Road Kendra Society, Opp. Nirmala Rajkot 360001, Gujrat Convent, Kalawad Road, Rajkot-360001 "थायीलेखासं/.जीआइआरसं/.Pan No. : Ajvpp5139P .. (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Mehul Ranpura, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. SR. DR
Section 143(3)Section 250

facts as also in law in retaining addition of Rs 51,42,840/- by estimating profit at the 12% of so called on money receipt in respect of project "RK Industrial Zone-16 The addition made and retained is bad in law as also on facts therefore the same ... 665/Rjt/2024 Deepak Mohanlal Puruswani ICDS-3 applicable to Real Estate Developers and also not appreciating that the income on account of undisclosed on-money receipt was required to be assessed in the year of receipt. (This is revenue's ground no. 2 in ITA No. 665/RJT/2024

DEEPAK MOHANLAL PURUSWANI,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 630/RJT/2024[2021-22]Status: DisposedITAT Rajkot13 Mar 2026AY 2021-22

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinhaआयकर अपील सं/.Ita No.630 & 631/Rjt/2024 िनधा"रण वष"/ Assessment Year: (2021-2022 & 2022-23) Hybrid Hearing बनाम Shree Deepak Mohanlal Puruswani The Dcit, Cc-1 Rajkot Nr. Maa Krupa, 4- Saurashtra Kala Vs. Aaykar Bhawan “Amruta Estate”, Kendra Society, Opp. Nirmala Convent, Mg Road, Rajkot 360001, Kalawad Road, Rajkot-360001 "थायीलेखासं/.जीआइआरसं/.Pan No. : Ajvpp5139P .. (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं/.Ita No.665/Rjt/2024 िनधा"रण वष"/ Assessment Year: (2022-23) बनाम The Dcit, Cc-1 Rajkot Shree Deepak Mohanlal Puruswani Aaykar Bhawan“Amruta Estate”, 2Nd Vs. Nr. Maa Krupa, 4- Saurashtra Kala Floor Mg Road Kendra Society, Opp. Nirmala Rajkot 360001, Gujrat Convent, Kalawad Road, Rajkot-360001 "थायीलेखासं/.जीआइआरसं/.Pan No. : Ajvpp5139P .. (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri Mehul Ranpura, Ld. ARFor Respondent: Shri Abhimanyu Singh Yadav, Ld. SR. DR
Section 143(3)Section 250

facts as also in law in retaining addition of Rs 51,42,840/- by estimating profit at the 12% of so called on money receipt in respect of project "RK Industrial Zone-16 The addition made and retained is bad in law as also on facts therefore the same ... 665/Rjt/2024 Deepak Mohanlal Puruswani ICDS-3 applicable to Real Estate Developers and also not appreciating that the income on account of undisclosed on-money receipt was required to be assessed in the year of receipt. (This is revenue's ground no. 2 in ITA No. 665/RJT/2024

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. YAGNIK ROAD HIGHSTREET LLP, RAJKOT

Appeal of the revenue is dismissed:\n(i)Ground no

ITA 684/RJT/2024[2021-22]Status: DisposedITAT Rajkot12 Mar 2026AY 2021-22
For Appellant: Shri D.M. Rindani, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 143(3)Section 147

also partners in other firms.\n5. As gathered from the partners, these other firms were also covered during the search\noperation and on-money receipts have been detected in the hands of these firms also.\nTherefore, we plead that if the income from on-money of other firms detected during ... Road High Street Vs. DCIT\n7. As elaborated above, all the partners have been deriving profits from other firms also\nand data of on-money receipts of these other firms are also seized during the same\nsearch operation. Therefore, all the partners of this firm collectively thought to grant

YAGNIK ROAD HIGHSTREET LLP,RAJKOT vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL -1,, RAJKOT

Appeal of the revenue is dismissed:\n(i)Ground no

ITA 512/RJT/2024[2021-22]Status: DisposedITAT Rajkot12 Mar 2026AY 2021-22
For Appellant: Shri D.M. Rindani, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 143(3)Section 147

also partners in other firms.\n5. As gathered from the partners, these other firms were also covered during the search\noperation and on-money receipts have been detected in the hands of these firms also.\nTherefore, we plead that if the income from on-money of other firms detected during ... during the\nsearch operation.\n\n7. As elaborated above, all the partners have been deriving profits from other firms also\nand data of on-money receipts of these other firms are also seized during the same\nsearch operation. Therefore, all the partners of this firm collectively took into\nconsideration

YAGNIK ROAD HIGHSTREET LLP,RAJKOT vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL -1,, RAJKOT

Appeal of the revenue is dismissed:\n(i)Ground no

ITA 511/RJT/2024[2020-21]Status: DisposedITAT Rajkot12 Mar 2026AY 2020-21
For Appellant: Shri D.M. Rindani, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 143(3)Section 147

also partners in other firms.\n5. As gathered from the partners, these other firms were also covered during the search\noperation and on-money receipts have been detected in the hands of these firms also.\nTherefore, we plead that if the income from on-money of other firms detected during ... gathered during the\nsearch operation.\n7. As elaborated above, all the partners have been deriving profits from other firms also\nand data of on-money receipts of these other firms are also seized during the same\nsearch operation. Therefore, all the partners of this firm collectively plead to grant

GANESHARAM GALBARAM MALI ,MUMBAI vs. DCIT, CENTRAL CIRCLE 4(2), MUMBAI

In the result the appeals of the assessee bearing ITA No

ITA 8349/MUM/2025[2017-18]Status: DisposedITAT Mumbai12 Mar 2026AY 2017-18
Section 132Section 153CSection 250Section 69Section 69C

source of such cash which was offered as\nadditional revenue by Rubberwalla Group cannot be attributed to any\nother source other than \"on money receipt\" from the purchasers, since\nthe principal business of the Rubberwala group is real estate\ndevelopment. The disclosure of additional revenue by Rubberwala\nGroup only followed

GANESHARAM GALBARAM MALI ,MUMBAI vs. DCIT CENTRAL CIRCLE 4(2), MUMBAI

In the result the appeals of the assessee bearing ITA No

ITA 8348/MUM/2025[2018-19]Status: DisposedITAT Mumbai12 Mar 2026AY 2018-19

Bench: Us.

For Appellant: Shri Bharat Kumar, CAFor Respondent: Shri Arun Kanti Datta (CIT DR)
Section 132Section 132(4)Section 153CSection 250Section 69C

source of such cash which was offered as additional revenue by Rubberwalla Group cannot be attributed to any other source other than "on money receipt" from the purchasers, since the principal business of the Rubberwala group is real estate development. The disclosure of additional revenue by Rubberwala Group only followed

GANESHARAM GALBARAM MALI ,MUMBAI vs. DCIT CENTRAL CIRCLE 4(2), MUMBAI

In the result the appeals of the assessee bearing ITA No

ITA 8347/MUM/2025[2019-20]Status: DisposedITAT Mumbai12 Mar 2026AY 2019-20

Bench: Us.

For Appellant: Shri Bharat Kumar, CAFor Respondent: Shri Arun Kanti Datta (CIT DR)
Section 132Section 132(4)Section 153CSection 250Section 69C

source of such cash which was offered as additional revenue by Rubberwalla Group cannot be attributed to any other source other than "on money receipt" from the purchasers, since the principal business of the Rubberwala group is real estate development. The disclosure of additional revenue by Rubberwala Group only followed

SIX TWENTY REALTY PVT LTD,RAJOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 787/RJT/2024[2020-21]Status: DisposedITAT Rajkot11 Mar 2026AY 2020-21
Section 133ASection 143(3)Section 147Section 148Section 250

erred on facts as also in law in estimating profit @ 22% on so called\non money receipt on sale of flats at project Dream City. The addition made and retained\nis bad in law as also on facts therefore the same may kindly be deleted.\n(This is assessee ... with accounting principles as per\nICDS-3 applicable to Real Estate Developers and also not appreciating that the income\non account of undisclosed on-money receipt was required to be assessed in the year of\nreceipt.\n(This is revenue's ground no. 2 in ITA No. 765/RJT/2024

SIX TWENTY REALTY PVT. LTD.,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 786/RJT/2024[2019-20]Status: DisposedITAT Rajkot11 Mar 2026AY 2019-20
Section 133ASection 143(3)Section 147Section 148Section 250

erred on facts as also in law in estimating profit @ 22% on so called\non money receipt on sale of flats at project Dream City. The addition made and retained\nis bad in law as also on facts therefore the same may kindly be deleted.\n(This is assessee ... with accounting principles as per\nICDS-3 applicable to Real Estate Developers and also not appreciating that the income\non account of undisclosed on-money receipt was required to be assessed in the year of\nreceipt.\n(This is revenue's ground no. 2 in ITA No. 765/RJT/2024

SIX TWENTY REALTY PVT. LTD.,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 785/RJT/2024[2018-19]Status: DisposedITAT Rajkot11 Mar 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri Mehul Ranpura, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 133ASection 143(3)Section 147Section 148Section 250

erred on facts as also in law in estimating profit @ 22% on so called on money receipt on sale of flats at project Dream City. The addition made and retained is bad in law as also on facts therefore the same may kindly be deleted. (This is assessee's ground ... with accounting principles as per ICDS-3 applicable to Real Estate Developers and also not appreciating that the income on account of undisclosed on-money receipt was required to be assessed in the year of receipt. (This is revenue's ground no. 2 in ITA No. 765/RJT/2024

DCIT, CENTRAL CIRCLE-1, RAJKOT, RAJKOT vs. SIX TWENTY REALTY PRIVATE LIMITED, RAJKOT

ITA 765/RJT/2024[2019-20]Status: DisposedITAT Rajkot11 Mar 2026AY 2019-20
Section 133ASection 143(3)Section 147Section 148Section 250

erred on facts as also in law in estimating profit @ 22% on so called\non money receipt on sale of flats at project Dream City. The addition made and retained\nis bad in law as also on facts therefore the same may kindly be deleted.\n(This is assessee ... with accounting principles as per\nICDS-3 applicable to Real Estate Developers and also not appreciating that the income\non account of undisclosed on-money receipt was required to be assessed in the year of\nreceipt.\n(This is revenue's ground no. 2 in ITA No. 765/RJT/2024

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. BUILDFOLIO REALTIES LLP, RAJKOT

ITA 683/RJT/2024[2021-22]Status: DisposedITAT Rajkot11 Mar 2026AY 2021-22
Section 132Section 143(3)Section 147

Total\n20000000\n20421000/-\n1100100/-\nThus, from the above discussion, it is evident that the assessee -firm has received\ngross on-money receipts of Rs.2,04,21,000/- during the year under consideration\n(FY 2020-21) for sale of units of its project 'Business Centrum'. However, no such\nincome ... unit at project 'Business Centrum'.\n4.2 Without prejudice to the above contention, it is further submitted that the basic issue\nis whether \"on money receipt\" (i.e. cash receipt) calculated on the basis of material\nfound during the search and seizure is to be taxed in toto or income

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. R K DREAMLAND, RAJKOT

ITA 564/RJT/2024[2017-18]Status: DisposedITAT Rajkot11 Mar 2026AY 2017-18
For Appellant: Shri Mehul Ranpura, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 143(3)Section 147Section 148Section 250

erred on facts as also in law in retaining addition of Rs.83,02,640/-\nby estimating profit at 16% of so called on money receipt. The addition made is bad in\nlaw as also on facts therefore the same may kindly be deleted. Alternatively, the addition\nmade by estimating rate ... with accounting principles as per\nICDS-3 applicable to Real Estate Developers and also not appreciating that the income\non account of undisclosed on-money receipt was required to be assessed in the year of\nreceipt.\n(This is revenue's ground no. 2 in ITA No. 563/RJT/2024

DCIT, CENTRAL CIRCLE 1, RAJKOT, RAJKOT vs. R K DREAMLAND, RAJKOT

ITA 563/RJT/2024[2016-17]Status: DisposedITAT Rajkot11 Mar 2026AY 2016-17
Section 143(3)Section 147Section 148Section 250

erred on facts as also in law in retaining addition of Rs.83,02,640/-\nby estimating profit at 16% of so called on money receipt. The addition made is bad in\nlaw as also on facts therefore the same may kindly be deleted. Alternatively, the addition\nmade by estimating rate ... with accounting principles as per\nICDS-3 applicable to Real Estate Developers and also not appreciating that the income\non account of undisclosed on-money receipt was required to be assessed in the year of\nreceipt.\n(This is revenue's ground no. 2 in ITA No. 563/RJT/2024

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 560/RJT/2024[2021-22]Status: DisposedITAT Rajkot11 Mar 2026AY 2021-22
For Appellant: Shri Mehul Ranpura, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 143(3)Section 147Section 148Section 250

erred on facts as also in law in retaining addition of Rs.83,02,640/-\nby estimating profit at 16% of so called on money receipt. The addition made is bad in\nlaw as also on facts therefore the same may kindly be deleted. Alternatively, the addition\nmade by estimating rate ... with accounting principles as per\nICDS-3 applicable to Real Estate Developers and also not appreciating that the income\non account of undisclosed on-money receipt was required to be assessed in the year of\nreceipt.\n(This is revenue's ground no. 2 in ITA No. 563/RJT/2024

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 559/RJT/2024[2020-21]Status: DisposedITAT Rajkot11 Mar 2026AY 2020-21
Section 143(3)Section 147Section 148Section 250

erred on facts as also in law in retaining addition of Rs.83,02,640/- by estimating profit at 16% of so called on money receipt. The addition made is bad in law as also on facts therefore the same may kindly be deleted. Alternatively, the addition made by estimating rate ... with accounting principles as per ICDS-3 applicable to Real Estate Developers and also not appreciating that the income on account of undisclosed on-money receipt was required to be assessed in the year of receipt.\n\n(This is revenue's ground no. 2 in ITA No. 563/RJT/2024

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 558/RJT/2024[2019-20]Status: DisposedITAT Rajkot11 Mar 2026AY 2019-20
For Appellant: Shri Mehul Ranpura, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 143(3)Section 147Section 148Section 250

erred on facts as also in law in retaining addition of Rs.83,02,640/-\nby estimating profit at 16% of so called on money receipt. The addition made is bad in\nlaw as also on facts therefore the same may kindly be deleted. Alternatively, the addition\nmade by estimating rate ... with accounting principles as per\nICDS-3 applicable to Real Estate Developers and also not appreciating that the income\non account of undisclosed on-money receipt was required to be assessed in the year of\nreceipt.\n\n(This is revenue's ground no. 2 in ITA No. 563/RJT/2024

R K DREAMLAND,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 557/RJT/2024[2018-19]Status: DisposedITAT Rajkot11 Mar 2026AY 2018-19
For Appellant: Shri Mehul Ranpura, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 143(3)Section 147Section 148Section 250

erred on facts as also in law in retaining addition of Rs.83,02,640/- by estimating profit at 16% of so called on money receipt. The addition made is bad in law as also on facts therefore the same may kindly be deleted. Alternatively, the addition made by estimating rate ... with accounting principles as per ICDS-3 applicable to Real Estate Developers and also not appreciating that the income on account of undisclosed on-money receipt was required to be assessed in the year of receipt.\n\n(This is revenue's ground no. 2 in ITA No. 563/RJT/2024

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