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TMI Blog2012 (8) TMI 238X X X X Extracts X X X X X X X X Extracts X X X X ..... ers of the apartment after the respective apartments are certified fit for occupation by the local authority - pointing of assessee to the fact that after utilization what remains is refunded completely to the customers the issue requires a second look at the hands of the AO - issue is thus remanded back to the AO for fresh consideration - I.T.A.No.95 of 2011 - - - Dated:- 16-7-2012 - MR.JUSTICE THOTTATHIL B.RADHAKRISHNAN, MR.JUSTICE K.VINOD CHANDRAN, JJ. For Appellant: SRI.E.K.NANDAKUMAR (SENIOR ADVOCATE), SRI.A.K.JAYASANKAR NAMBIAR (SENIOR ADVOCATE), SRI.K.JOHN MATHAI, SRI.P.BENNY THOMAS, SRI.P.GOPINATH For Respondent: SENIOR COUNSEL FOR GOVERNMENT OF INDIA (TAXES) SRI. P.K.R.MENON, STANDING COUNSEL FOR INCOME TAX SRI.JOSE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the receipts coming into the customer deposit account is made on the specific agreement that such payments would be routed through the assessee only and assessee having made provisions for such services, there are still amounts remaining in credit in the said accounts. These amounts have not been utilized for the purpose of providing various services to the customers and having not been refunded to such customers; the same was held to be business income and hence the assessee was found liable to tax on such income under the provisions of the Act. The Tribunal having assessed each of the heads under which amounts were received and appropriated, remanded the matter back to the Assessing Officer for consideration of the accounts with respe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, since such provision has to be made for each apartment in each of its projects. Hence the assessee undertakes such arrangements, however, with a condition that the statutory fees and expenses thereon are to be met by the individual customer. 4. Learned Senior Counsel would also urge before us that the authorities have not looked into the various bills available with the assessee which would reveal that the assessee is not levying any service charges on such arrangement being made and it is the actual expense that is being reimbursed. However, as any prudent business-man would do, the assessee insists on advance from the customers, since the apartments are handed over making them completely fit for occupation with the provision of power ..... X X X X Extracts X X X X X X X X Extracts X X X X
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