Audit on sale of flats which was received on devlop. of land

Please clarify some of the points:

1. If assessee has received 5 flats, how has he also received Rs. 1.50 crores? Has he sold those 5 flats in the same year?

2. What is the assessee's business (or business of firms in which he is partner)? If it is not sale of flats/ real estate, then this may not be a business income.

3. You have mentioned that he has entered into development agreement. But is he a developer or land owner?

Whether the assessee is liable to tax audit or not depends on whether the Rs. 1.50 crore is his business income or sale of capital asset. Without clarity of the queries mentioned above, it is difficult to give a confirmed answer.