TMI Blog2020 (3) TMI 127X X X X Extracts X X X X X X X X Extracts X X X X ..... n be added to them. The said documents disclose what they state. The said documents reflect broker-wise due as on 12.01.2005 . This clearly means that the tabulation reflected the amount recoverable by the assessee from the named brokers, as on 12.01.2005, and it did not reflect the amount actually received or accrued. The assessee, admittedly, is a real estate developer and its explanation that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion) 1. Exemption allowed, subject to all just exceptions. 2. The application stands disposed of. ITA 107/2020 CM APPL. 6384/2020 (delay) 3. There is delay of 150 days in filing the appeal. 4. We have heard learned senior standing counsel for the Revenue on merits. Since we are not inclined to interfere in the present appeal, we do not deem it appropriate to pass any order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2007 on Taneja Developer and Infrastructure Ltd. During the said survey, certain documents were seized. It appears that three loose sheets were recovered during the said survey which belonged to the assessee. The said sheets contained particulars broker-wise due as on 12.01.2005 . The said sheets contained the tabulation, giving the name of the broker and against the name of the broker the amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he revenue. 7. Ms. Malhotra, senior standing counsel submits that the respondent- Assessee does not dispute that the loose sheets recovered during survey operations from Taneja Developers and Infrastructure Ltd. indeed belong to the assessee. She submits that the broker wise dues reflected in the said loose sheets was the income of the assessee during the assessment year in question. 8. Havi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and that in respect of the said bookings, further amounts were to be received in subsequent years was completely a plausible explanation. Indeed, the assessee disclosed in its books of accounts further receipt of ₹ 1,34,59,86,447/- in the subsequent years, and the assessee also reflected the balance amount due as ₹ 7,88,50,502/-. 9. In the aforesaid circumstances, we are of the vie ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
