TMI Blog2013 (7) TMI 737X X X X Extracts X X X X X X X X Extracts X X X X ..... and owner would receive a fix predetermined amount towards the price of land and was thus insulated against any risk - Therefore, it cannot be said that the assessee acted only as a works contractor - Following decision of CIT v. Radhe Developers [2011 (12) TMI 248 - GUJARAT HIGH COURT] - Decided against Revenue. - TAX APPEAL NO. 128 OF 2013 - - - Dated:- 28-3-2013 - AKIL KURESHI AND MS. SONIA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gh the assessee may not be the owner of the land. Learned counsel for the Revenue candidly pointed out that such decision in case of Radhe Developers came to upheld by this Court in case of CIT v. Radhe Developers reported in 341 ITR 403. 3. In the decision in case of Radhe Developers (supra), we had observed as under : "36. We have noted at some length, the relevant terms and conditions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ized to appoint any other Architect or Engineer, legal adviser and other professionals. He would appoint Sub-contractor or labour contractor for execution of the work. The assessee was authorized to admit the persons willing to join the scheme. The assessee was authorised to receive the contributions and other deposits and also raise demands from the members for dues and execute such demands throu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itional FSI be available, the assessee would have the full right to use the same also. The sale proceeds of the units allotted by the assessee in favour of the members enrolled would be appropriated towards the land price. Eventually after paying off the land owner and the erstwhile proposed purchasers, the surplus amount would remain with the assessee. Such terms and conditions under which the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... part of the sale consideration of the housing units for his benefit. In short, assessee took the full risk of executing the housing project and thereby making profit or loss as the case may be. The assessee invested its own funds in the cost of construction and engagement of several agencies. Land owner would receive a fix predetermined amount towards the price of land and was thus insulated again ..... X X X X Extracts X X X X X X X X Extracts X X X X
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