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2012 (8) TMI 238 - KERALA HIGH COURTTreatment of unutilized balance available in "consumer deposit account" - AO added the unutilized balance of such account to the total income of the assessee - Held that:- Considering the sale agreement produced by the assessee shows that these amounts are not the part of the total sales consideration and also the balance sheet disclosing how the amounts were treated as liability in the books of accounts - the customer deposit accounts are with respect to various services in the apartments, like power connection, water connection, Cable TV connection etc which are necessarily to be taken out by the individual owners of the apartment after the respective apartments are certified fit for occupation by the local authority - pointing of assessee to the fact that after utilization what remains is refunded completely to the customers the issue requires a second look at the hands of the AO - issue is thus remanded back to the AO for fresh consideration
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