https://www.taxtmi.com/caselaws?id=783112 ITAT Delhi allowed the assessee's appeal. It held that the disputed sums received from the purchaser as advances under duly executed agreements for sale of farmhouses, with TDS deducted u/s 194I, constituted genuine advance receipts for transfer of immovable property and could not be taxed as unexplained cash credits u/s 68. The Tribunal found the purchaser's creditworthiness established and rejected the AO's characterization of the receipts as unexplained. Further, additions based on documents seized from a third person were deleted, as the AO failed to comply with the mandatory procedure and approvals required under Explanation 2 to section 148 for using third-party material against the assessee. en-us Thu, 27 Nov 2025 00:00:00 +0530 Wed, 10 Dec 2025 08:41:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783112 ITAT Delhi allowed the assessee's appeal. It held that the disputed sums received from the purchaser as advances under duly executed agreements for sale of farmhouses, with TDS deducted u/s 194I, constituted genuine advance receipts for transfer of immovable property and could not be taxed as unexplained cash credits u/s 68. The Tribunal found the purchaser's creditworthiness established and rejected the AO's characterization of the receipts as unexplained. Further, additions based on documents seized from a third person were deleted, as the AO failed to comply with the mandatory procedure and approvals required under Explanation 2 to section 148 for using third-party material against the assessee. Case-Laws Income Tax Thu, 27 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783112