https://www.taxtmi.com/caselaws?id=791942 Customer advances received by a real estate developer in the ordinary course of business, consistently accounted for under the project completion method and adjusted against recorded sales, cannot be treated as unexplained cash credits where the related sales are offered to tax. Taxing such advances while accepting the corresponding sales and without rejecting the books would result in double taxation and selectively disturb an accounting treatment accepted in earlier years. The addition under section 68 was therefore deleted, and the appellate order was set aside. en-us Mon, 18 May 2026 00:00:00 +0530 Wed, 20 May 2026 08:31:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791942 Customer advances received by a real estate developer in the ordinary course of business, consistently accounted for under the project completion method and adjusted against recorded sales, cannot be treated as unexplained cash credits where the related sales are offered to tax. Taxing such advances while accepting the corresponding sales and without rejecting the books would result in double taxation and selectively disturb an accounting treatment accepted in earlier years. The addition under section 68 was therefore deleted, and the appellate order was set aside. Case-Laws Income Tax Mon, 18 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791942