https://www.taxtmi.com/highlights?id=44917 Advance for rent and never turned into income - Recovery barred by limitation - still remains as a liability in its account - If the recovery had been barred by limitation, necessarily, it has to be treated as an income from the business. It could not have been treated as an unexplained cash credit or as an unexplained investment, since the source was clear and there was proper explanation for the amounts as seen from the books of accounts. en-us Tue, 05 Mar 2019 07:35:06 +0530 Tue, 05 Mar 2019 07:15:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=44917 Advance for rent and never turned into income - Recovery barred by limitation - still remains as a liability in its account - If the recovery had been barred by limitation, necessarily, it has to be treated as an income from the business. It could not have been treated as an unexplained cash credit or as an unexplained investment, since the source was clear and there was proper explanation for the amounts as seen from the books of accounts. Highlights Income Tax Tue, 05 Mar 2019 07:35:06 +0530 https://www.taxtmi.com/highlights?id=44917