https://www.taxtmi.com/caselaws?id=462248 The ITAT Delhi addressed taxability of non-refundable amounts and unexplained cash received by a developer. The assessee claimed Rs. 25 crore security deposit was already included in total sale proceeds of Rs. 115 crore. The tribunal found the assessee functioned as a developer, having incurred project costs and provided bank guarantees for development charges. The matter was remanded to the AO to verify whether the Rs. 25 crore was included in the Rs. 115 crore disclosed amount, directing relief if already included, otherwise assessment per law. Appeals allowed for statistical purposes. en-us Wed, 26 Mar 2025 00:00:00 +0530 Wed, 04 Jun 2025 13:37:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462248 The ITAT Delhi addressed taxability of non-refundable amounts and unexplained cash received by a developer. The assessee claimed Rs. 25 crore security deposit was already included in total sale proceeds of Rs. 115 crore. The tribunal found the assessee functioned as a developer, having incurred project costs and provided bank guarantees for development charges. The matter was remanded to the AO to verify whether the Rs. 25 crore was included in the Rs. 115 crore disclosed amount, directing relief if already included, otherwise assessment per law. Appeals allowed for statistical purposes. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462248