On-money accrues on title transfer, requiring verification of later-year tax offers before sustaining additions in the original assessment year.

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....On-money forming part of consideration for sale of flats accrues when the sale deed is executed and title transfers, rather than on mere receipt as an advance, under the project-completion method. Disclosed on-money offered in the respective years of sale-deed registration cannot be taxed wholly in the earlier assessment year without verifying later-year tax offerings. Balance additions require limited verification of income offered within the stipulated undertaking periods; verified amounts must be deleted, while amounts not offered may be taxed in the earlier year. No further deferment beyond those stipulated periods is permitted.....