https://www.taxtmi.com/caselaws?id=785713 Advance money received in connection with negotiations for transfer of immovable property was held not taxable as forfeited income under section 56(2)(ix) where the agreement contained no forfeiture clause and there was no evidence of actual forfeiture or retention as forfeiture. The discussion distinguishes section 56(2)(ix), which applies only when advance money is forfeited and the transfer does not occur, from section 51, which governs advance money received and retained in transfer negotiations and requires adjustment against the cost of acquisition on a later transfer; the addition as income from other sources was deleted. en-us Fri, 19 Dec 2025 00:00:00 +0530 Fri, 30 Jan 2026 09:22:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785713 Advance money received in connection with negotiations for transfer of immovable property was held not taxable as forfeited income under section 56(2)(ix) where the agreement contained no forfeiture clause and there was no evidence of actual forfeiture or retention as forfeiture. The discussion distinguishes section 56(2)(ix), which applies only when advance money is forfeited and the transfer does not occur, from section 51, which governs advance money received and retained in transfer negotiations and requires adjustment against the cost of acquisition on a later transfer; the addition as income from other sources was deleted. Case-Laws Income Tax Fri, 19 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785713