On-Money Taxed at 8% Profit; Unrebutted Subcontracting Allowed; Section 43CA Triggered Upon Revenue Recognition
On-Money Taxed at 8% Profit; Unrebutted Subcontracting Allowed; Section 43CA Triggered Upon Revenue Recognition Issue Unaccounted On-Money Receipts: Whether entire unrecorded cash receipts can be taxed or extrapolated across unsold/other units, and whether separate additions under Section 40A(3) or for unrecorded expenses are permissible once profit is estimated on gross unaccounted turnover. Sub-Contracting Expenditure: Whether… Read More »