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2017 (10) TMI 110 - HC - Income TaxAddition u/s 68 - booking advances received from the prospective customers - tribunal confirmed part addition - Held that:- Tribunal allowed the assessee to produce further evidence at second appellate stage. To the extent, the additions were explained through such further evidence, the Tribunal remanded the issue before the Assessing Officer for verification. Only to the extent where there was no further material, the Tribunal confirmed the disallowance of ₹ 96.60 lakhs. It can thus be seen that the entire issue is based on appreciation of evidence and essentially a factual one. No question of law arises. We did not discern any ratio that section 68 of the Act cannot be applied in case of advances received for plot bookings. If all the ingredients of section 68 exist, nothing would prevent the Revenue from invoking the said provision. With respect to the addition of ₹ 26.32 lakhs confirmed by Commissioner of Income Tax (Appeals), we primafacie find that the counsel for the appellant is correct in pointing out that the Tribunal failed to give any finding on this issue. The Tribunal has neither confirmed nor deleted the addition. Let there be NOTICE for final disposal, returnable on 04.10.2017.
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