In case of developer firm it is not necessary that in every assessment year actual construction activity should be carried out


Last updated: 24 August 2012

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
The Learned CIT (Appeals) failed to appreciate that the amount offered during Survey u/s 133A carried out on 13/02/07 was not offered as any cash or other investments were recovered during the survey, but as there were mere entries without any narration as to their nature being receipts or payments

Citation :
Harsh Developers, 205, Hemu Classic,S.V. Road, Malad West, Mumbai – 400 064. PAN: AACFH 5342 L (Appellant) Vs. ACIT – 15(2), Mumbai (Respondent)

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CS Bijoy
Published in Income Tax
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