https://www.taxtmi.com/caselaws?id=771520 ITAT Delhi deleted addition of Rs. 50,00,000/- made as unexplained advance in assessee's hands. The amount was received from a party via cheque for booking three flats, with proper receipt issued. An agreement document seized during search established the transaction's genuineness. The AO failed to consider the explained source of funds. CIT(A) had directed separate action against the payer for the same amount, confirming the transaction's validity and avoiding double taxation. en-us Fri, 23 May 2025 00:00:00 +0530 Tue, 27 May 2025 08:32:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771520 ITAT Delhi deleted addition of Rs. 50,00,000/- made as unexplained advance in assessee's hands. The amount was received from a party via cheque for booking three flats, with proper receipt issued. An agreement document seized during search established the transaction's genuineness. The AO failed to consider the explained source of funds. CIT(A) had directed separate action against the payer for the same amount, confirming the transaction's validity and avoiding double taxation. Case-Laws Income Tax Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771520