The appeal stands allowed
Bench: SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member), SHRI NARINDER KUMAR (Judicial Member)
purchase and sale of real estate and flats, it was held that the direction of the Tribunal to the AO to take 25% of the sale proceeds received in cash as assessee's income rather than making addition of entire amount of sale proceeds received in cash is sustainable. In such cases, not the entire receipt but only the profit