https://www.taxtmi.com/caselaws?id=759270 ITAT Nagpur upheld CIT(A)'s decision deleting addition of Rs. 2,00,95,900 treated as unaccounted receipts from advance payments received by assessee. Court found assessee regularly maintained mobilization account system, showing advances against subsequent year bills without revenue objection. Members' statements lacked full work knowledge, with Sub Divisional Engineer handling matters. Work completion certificates confirmed subsequent completion and income taxation. Court noted amounts were already recorded as liability in books, not unaccounted receipts. Revenue's appeal dismissed. en-us Mon, 02 Sep 2024 00:00:00 +0530 Thu, 26 Sep 2024 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759270 ITAT Nagpur upheld CIT(A)'s decision deleting addition of Rs. 2,00,95,900 treated as unaccounted receipts from advance payments received by assessee. Court found assessee regularly maintained mobilization account system, showing advances against subsequent year bills without revenue objection. Members' statements lacked full work knowledge, with Sub Divisional Engineer handling matters. Work completion certificates confirmed subsequent completion and income taxation. Court noted amounts were already recorded as liability in books, not unaccounted receipts. Revenue's appeal dismissed. Case-Laws Income Tax Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759270