https://www.taxtmi.com/caselaws?id=799291 Service-tax turnover and income-tax revenue may differ in real-estate projects because service tax applied to advances received, while income under the mercantile system and Percentage of Completion Method is recognised at the relevant stage of project completion. Customer advances remain liabilities until then. Where audited books, financial statements and project-wise workings support recognised revenue, no accounting discrepancy is shown and the books are not rejected, the mismatch is a timing and accounting-basis difference. It cannot be treated as unaccounted turnover or taxable income, supporting deletion of the addition. en-us Mon, 31 Aug 2026 00:00:00 +0530 Sat, 19 Sep 2026 08:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799291 Service-tax turnover and income-tax revenue may differ in real-estate projects because service tax applied to advances received, while income under the mercantile system and Percentage of Completion Method is recognised at the relevant stage of project completion. Customer advances remain liabilities until then. Where audited books, financial statements and project-wise workings support recognised revenue, no accounting discrepancy is shown and the books are not rejected, the mismatch is a timing and accounting-basis difference. It cannot be treated as unaccounted turnover or taxable income, supporting deletion of the addition. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799291