https://www.taxtmi.com/caselaws?id=466762 Cash advances received under sale agreements do not constitute taxable income where they were subsequently recovered by police, the agreements were cancelled, and the advances were refunded to the payors through account-payee cheques. Although impounded books recorded the amount as income and a director admitted it during survey, bank records evidenced the refunds and the recipient did not retain the funds. The addition was therefore required to be deleted. en-us Tue, 25 Feb 2025 00:00:00 +0530 Wed, 18 Feb 2026 20:11:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466762 Cash advances received under sale agreements do not constitute taxable income where they were subsequently recovered by police, the agreements were cancelled, and the advances were refunded to the payors through account-payee cheques. Although impounded books recorded the amount as income and a director admitted it during survey, bank records evidenced the refunds and the recipient did not retain the funds. The addition was therefore required to be deleted. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466762