https://www.taxtmi.com/caselaws?id=790318 In alleged unaccounted real estate turnover, only the profit element embedded in the receipts was assessable because tax applies to income, not gross turnover, and the reconciliation used was incomplete as later project receipts were ignored. Amounts collected for unsold flats and extra work were shown in the partners' individual returns, and the Revenue failed to prove that they represented the firm's income for the relevant year. The additional addition in the firm's hands was therefore unsustainable, and the relief granted below was maintained. en-us Fri, 17 Apr 2026 00:00:00 +0530 Tue, 21 Apr 2026 15:25:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790318 In alleged unaccounted real estate turnover, only the profit element embedded in the receipts was assessable because tax applies to income, not gross turnover, and the reconciliation used was incomplete as later project receipts were ignored. Amounts collected for unsold flats and extra work were shown in the partners' individual returns, and the Revenue failed to prove that they represented the firm's income for the relevant year. The additional addition in the firm's hands was therefore unsustainable, and the relief granted below was maintained. Case-Laws Income Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790318