https://www.taxtmi.com/highlights?id=96125 Cash advances treated as receipts: Held that cash receipts were advances and under the assessee's established project-completion accounting could not be taxed in the relevant AY but only on project completion; appeal allowed on this issue. Unexplained purchase payments: Addition deleted because corresponding additions in purchasers' hands were removed and statements relied upon were not furnished, vitiating the addition; upheld deletion. Interest disallowance: Deleted since own capital exceeded interest-free advances, permitting presumption advances made from own funds; disallowance overturned. Deemed rent under s.22: sustained. Reassessment valid. TDS non-deduction remitted to AO for verification. Section 68 additions on opening balances deleted. - ITAT en-us Sat, 17 Jan 2026 11:59:32 +0530 Sat, 17 Jan 2026 11:59:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96125 Cash advances treated as receipts: Held that cash receipts were advances and under the assessee's established project-completion accounting could not be taxed in the relevant AY but only on project completion; appeal allowed on this issue. Unexplained purchase payments: Addition deleted because corresponding additions in purchasers' hands were removed and statements relied upon were not furnished, vitiating the addition; upheld deletion. Interest disallowance: Deleted since own capital exceeded interest-free advances, permitting presumption advances made from own funds; disallowance overturned. Deemed rent under s.22: sustained. Reassessment valid. TDS non-deduction remitted to AO for verification. Section 68 additions on opening balances deleted. - ITAT Highlights Income Tax Sat, 17 Jan 2026 11:59:32 +0530 https://www.taxtmi.com/highlights?id=96125