2012 (1) TMI 285

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..... JM : Since there was a difference of opinion between the Ld. Members constituting the Division Bench ITAT Mumbai with regard to following the questions, the matter was referred to Third Member u/s. 255(4) of I.T. Act for his opinion: i) Whether on the facts and in the circumstances of the project being executed by the assessee can be taken as complete during the assessment year 2004-05 or not .....

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..... aken by Ld. Judicial Member of Division Bench. The Ld. Judicial Member has held that the amount of ₹ 13.31 crores received by assessee during the year from MHADA cannot be assessed as its income for assessment year 2004-05. 3. Therefore, in accordance with the majority view, appeal of assessee as well as appeal of department, both are dismissed. 4. The above order is pronounced in the Open .....

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