Held that the assessee offered to tax the advance received from its customers in the subsequent year, the impugned addition under s. 68 made by the AO in the relevant assessment year is not sustainable, more so as the assessee is also entitled to a deduction under s. 80-IA.(AY. 2013-14, 2014-15)
Kumar Urban Development (P) Ltd. v. DCIT (2025) 237 TTJ 881 (Pune) (Trib.)
S. 68: Cash credits-Advance received from customers of the housing project-Offered to tax such advances received in the subsequent years-Addition was not justified-Entitled to claim deduction under s. 80-IA-Addition was rejected. [S. 80IA]
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