2012 (1) TMI 285

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..... ence 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? ii) Whether on the facts a .....

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..... r 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 Court in the presence .....

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