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2010 (2) TMI 851 - AT - Income TaxCommission income assessed on 3% on the sale of appellant's own bookings of properties on estimate basis - properties were allotted to the assessee against commission earned by the assessee as part consideration on account of properties sold through the assessee as an agent – Held that:- sale consideration in these two years are on account of sale of own properties acquired by the assessee and hence there is no question of earning any commission income on account of these sales in these two years, assessee might have acquired these properties at a price less than market price to the extent of commission, assessee has acquired these properties at a price less than market price and in the absence of any such adverse material, the addition confirmed by the CIT(A) cannot be sustained and hence we delete the same in both the years, assessee's appeal in both the years ie. AY 2001-02 and 02-03 are allowed Addition on account of unrecorded sale proceeds - addition on account of unexplained investment in immoveable properties and of Rs.2,50,160/- on account of repayment of unsecured loans out of unexplained sources and this total addition was made of Rs.39,35,653/-. Out of this, CIT(A) has upheld the addition to the extent of Rs.31,35,633/- and he has allowed a relief of only Rs.8 lakh on the basis that this amount was received by the assessee from Mrs. Sukhbiri Devi, mother of the assessee and the assessee has produced cogent evidence in the form of bank account of Mrs. Sukhibiri Devi, the sources of funds, copy of her income-tax return and the copy of her PAN. A clear finding is given by the CIT(A) that the source of Rs.8 lakh stands explained. No specific defect could be pointed out by the Ld.DR of the Revenue in the order of the CIT(A) on this aspect and hence, no reason to interfere in the order of the CIT(A) on this issue. Revenue is also dismissed, assessee's appeals for AY 2001-02 and 02-03 are allowed.
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