https://www.taxtmi.com/highlights?id=98558 On-money receipts from real estate sales were treated as undisclosed turnover, but only the embedded profit component was taxable, not the full receipt. The Tribunal held that profit had to be estimated on a reasonable basis using the project profile, cost structure, seized material and past margins, and fixed a uniform 10% rate on on-money receipts, rejecting both the assessee's lower rate claim and the Revenue's higher estimate. It also held that the estimated profit was taxable in the year the sale deed was executed and title-related risks and rewards passed, not when cash was received, and that ICDS-III was inapplicable to a developer. The assessee's appeals were partly allowed and the Revenue's appeals dismissed. en-us Wed, 08 Apr 2026 08:56:59 +0530 Wed, 08 Apr 2026 08:56:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=98558 On-money receipts from real estate sales were treated as undisclosed turnover, but only the embedded profit component was taxable, not the full receipt. The Tribunal held that profit had to be estimated on a reasonable basis using the project profile, cost structure, seized material and past margins, and fixed a uniform 10% rate on on-money receipts, rejecting both the assessee's lower rate claim and the Revenue's higher estimate. It also held that the estimated profit was taxable in the year the sale deed was executed and title-related risks and rewards passed, not when cash was received, and that ICDS-III was inapplicable to a developer. The assessee's appeals were partly allowed and the Revenue's appeals dismissed. Highlights Income Tax Wed, 08 Apr 2026 08:56:59 +0530 https://www.taxtmi.com/highlights?id=98558