https://www.taxtmi.com/caselaws?id=462550 ITAT Mumbai held that only profit element embedded in on-money receipts should be taxed, not entire receipts. Court determined 22.5% of on-money receipts as fair estimate of profit element based on assessee's historical profit rates averaging 14.15% and maximum 25.75%. Addition restricted to 22.5% of INR 1,90,71,000 being balance amount not offered to tax by assessee. Court confirmed assessee entitled to Section 80IB(10) deduction on additional income from on-money receipts for eligible projects. Revenue's appeal dismissed. en-us Wed, 26 Apr 2023 00:00:00 +0530 Mon, 30 Jun 2025 10:25:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462550 ITAT Mumbai held that only profit element embedded in on-money receipts should be taxed, not entire receipts. Court determined 22.5% of on-money receipts as fair estimate of profit element based on assessee's historical profit rates averaging 14.15% and maximum 25.75%. Addition restricted to 22.5% of INR 1,90,71,000 being balance amount not offered to tax by assessee. Court confirmed assessee entitled to Section 80IB(10) deduction on additional income from on-money receipts for eligible projects. Revenue's appeal dismissed. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462550