Held that mere receipt of money by way of advance does not automatically become the income of the assessee per se without doing the work for which the money was received. Income-tax is tax as real income unless the position stands altered by a deeming fiction in the Act Books override the annual statement (26AS). Addition was deleted. Tribunal also held that AO having neither rejected the books of accounts nor indicated any material to question the correctness and bona fides of the book results declared by the assessee, estimation of income by applying net profit rate of 8 per cent to contract receipts is not sustainable, low profit is neither the circumstance nor the reason to justify the estimation at some higher percentage. Followed CIT v. Paradise Holidays (2010) 325 ITR 13 (Delhi)(HC) (AY. 2012-13)