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TMI Blog2013 (7) TMI 980X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome of the husband and wife under any head shall not be assessed as that of that community or property but such income of husband and wife under each head of income shall be apportioned equally between the husband and wife. The income so apportioned will be included separately in the total income of husband and wife respectively. Considering this, a consolidated order is passed in the case of the two appellants; husband and wife. 2. The short facts of the case are that the AO has assessed the total income at ₹ 39,14,310/- as against declared income of (-) ₹ 1,28,840/- in addition to agricultural income of ₹ 45,000/- and after assessing 50% in the hands of the spouse, Mrs. Sadia Shaikh as per Sec. 5A of the Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said agreement and ₹ 40 lacs has to be received in cash in addition to the said flats. Therefore, claim that ₹ 76,72,000/- should be treated as cost of 6 flats and cost of acquisition of 4 flats may be worked out accordingly has not been accepted and AO has added ₹ 65,77,000/- as profit on sale of flats in the hands of the Assessee. 3.1 The ld. AR submitted that the AO has made the addition on the reason that there was no documentary evidence to prove commission/brokerage paid to Mr. Tahir Isani by Mr. Sadiq Shaikh. The ld. AR submitted that when there is no documentary evidence, then, circumstantial evidence must be accepted. There are substantial evidence in the form of confirmation letter from Mr. Tahir Isani. If th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tement recorded on oath that this agreements were accruing to Mr. Tahir Isani as Commission for services rendered by him. There was consequential survey proceedings on Mr. Tahir Isani during the same time and Mr. Tahir Isani also gave statement on oath that subject matter of these flats were Commission income. We find that during the course of assessment confirmation from Mr. Tahir Isani regarding assessability of 4 flats were given. Mr. Tahir Isani in his return of income has already shown these two flats as Commission income and balance flats would be recognised as Commission income on receipt of possession letter. Therefore, we are of the view that the Assessee has already given 4 flats as Commission, therefore, it cannot be added in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee has offered the same for taxation during A.Y 2009-10 and paid the tax due thereon for the said income. The transaction does not become complete on entering of agreement for sale. The same is complete only when either the possession is given or the sale deed entered i.e. to say that the property is conveyed or registered. The right in immoveable property was given in 2004-05 but the possession was given in 2009-10. Therefore, it has to be taxed in the year of possession. Therefore, no addition is required. The ld. DR relied on the order of the tax authorities below. We have heard the rival contentions of both the parties. Looking to the facts and circumstances of the case, we find that Assessee had already offered this amount for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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