https://www.taxtmi.com/caselaws?id=798818 The collaborator's contractual share of flat-sale proceeds did not accrue as the assessee's taxable income because the collaboration agreement imposed an overriding obligation, supported by banking records, ledger accounts and evidence that the collaborator funded construction. Alleged irregularities in the agreement did not establish a diversion device. The land-acquisition addition was also unsustainable because the books of account and registered purchase deed evidenced both acquisition and recording of the land, leaving no factual basis to treat its cost as sourced from unexplained funds. en-us Wed, 09 Sep 2026 00:00:00 +0530 Sat, 12 Sep 2026 08:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798818 The collaborator's contractual share of flat-sale proceeds did not accrue as the assessee's taxable income because the collaboration agreement imposed an overriding obligation, supported by banking records, ledger accounts and evidence that the collaborator funded construction. Alleged irregularities in the agreement did not establish a diversion device. The land-acquisition addition was also unsustainable because the books of account and registered purchase deed evidenced both acquisition and recording of the land, leaving no factual basis to treat its cost as sourced from unexplained funds. Case-Laws Income Tax Wed, 09 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798818