https://www.taxtmi.com/caselaws?id=372051 The Tribunal upheld the CIT(A)'s decision that the amount of Rs. 10,12,50,000 received by the assessee from HPC should be treated as an advance and not as undisclosed profits. The Tribunal found that the CIT(A) correctly considered the nature of the receipt based on the agreements and accounting treatment, concluding that the amount was refundable if the land acquisition did not materialize. The Tribunal also determined that there was no violation of Rule 46A in considering relevant documents. en-us Tue, 11 Dec 2018 00:00:00 +0530 Mon, 17 Dec 2018 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372051 The Tribunal upheld the CIT(A)'s decision that the amount of Rs. 10,12,50,000 received by the assessee from HPC should be treated as an advance and not as undisclosed profits. The Tribunal found that the CIT(A) correctly considered the nature of the receipt based on the agreements and accounting treatment, concluding that the amount was refundable if the land acquisition did not materialize. The Tribunal also determined that there was no violation of Rule 46A in considering relevant documents. Case-Laws Income Tax Tue, 11 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372051