ACIT, CHENNAI vs. M/S. BSR BUILDERS ENGINEERS CONTRACTORS , CHENNAI

ITA 1561/CHNY/2025Status: DisposedITAT Chennai14 January 2026Bench: SHRI ABY T. VARKEY (Judicial Member), SHRI JAGADISH (Accountant Member)1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, stating that the cash receipts were advances taxable upon project completion. It also noted that the assessee had already offered the income in the year of completion and that Section 43CB read with ICDS-III was not applicable to real estate developers.

What were the facts?

The assessee, a real estate developer, received cash advances for a commercial building sale. The Assessing Officer (AO) added these advances as unaccounted income, but the CIT(A) deleted the addition. The Revenue appealed this deletion.

What were the issues?

Whether cash advances received by a real estate developer are taxable in the year of receipt or upon project completion, and the applicability of Section 43CB and ICDS-III to real estate developers.

Which sections of the Income-tax Act were involved?

Section 132,Section 143(2),Section 145,Section 43CB

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Cases cited in this judgment(13)Show list

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आयकर अपीलीय अिधकरण, ‘ए’ "यायपीठ, चे"ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI "ी एबी टी. वक", "ाियक सद" एवं एवं एवं एवं "ी जगदीश, लेखा सद" के सम" BEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND SHRI JAGADISH, ACCOUNTANT MEMBER आयकर अपील सं./ITA Nos.1311 & 1312/Chny/2025 िनधा"रणवष"/Assessment Years: 2016-17 & 2017-18 v. BSR Builders Engineers Contractors, The DCIT, No.28, BSR Janus, Tank Bund Road, Central Circle-2(3), Nungambakkam, Chennai-600 034. Chennai. [PAN: AAGFB 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent) आयकर अपील सं./ITA Nos.1274 & 1561/Chny/2025 िनधा"रणवष"/Assessment Years: 2017-18 & 2016-17 v. The DCIT / ACIT, BSR Builders Engineers Central Circle-2(3), Contractors, Chennai. No.28, BSR Janus, Tank Bund Road, Nungambakkam, Chennai-600 034. [PAN: AAGFB 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Cross Objection Nos.39 & 47/Chny/2025 [in ITA Nos.1274 & 1561/Chny/2025] िनधा"रणवष"/Assessment Years: 2017-18 & 2016-17

v. BSR Builders Engineers Contractors, The DCIT / ACIT, No.28, BSR Janus, Tank Bund Road, Central Circle-2(3), Nungambakkam, Chennai-600 034. Chennai. [PAN: AAGFB 7140 N] (अपीलाथ"/Appellant) (""यथ"/Respondent)

Assessee by : Mr.G. Baskar

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