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TMI Blog2017 (10) TMI 110X X X X Extracts X X X X X X X X Extracts X X X X ..... in confirming the addition of Rs. 96,60,823/made under section 68 of the Act in respect of booking advances received from the prospective customers ? (iii) Whether, in the facts and circumstances of the case, the addition under section 68 of the Act in respect of booking advance is sustainable despite the fact that the appellant has offered the concerned sum as income in the Assessment Year 2017-18? (iv) Whether, in the facts and circumstances of the case, the order passed by the ITAT is perverse inasmuch as the same has been passed without dealing with the ground of appeal to the extent of Rs. 26,32,549/forming part of total addition of Rs. 2,78,33,924/being subject matter of assessee's appeal before ITAT and also since the impug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #39;s unaccounted credit with the aid of section 68 of the Act. 3. The assessee carried the matter in appeal before the Commissioner. Before the Commissioner, the assessee produced additional evidence which included application forms of the applicants who were alloted the plots which contained the photograph of the applicant and his personal details such as his name, address, date of birth, occupation, telephone number etc. In some cases, the assessee could also produce the PAN details of the depositors. These details were verified through remand report submitted by the Assessing Officer. The appellate Commissioner gave substantial relief to the assessee but, retained a sum of Rs. 2.52 crores and another sum of Rs. 26.32 lakhs (rounded off ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellant, insofar as the Tribunal confirmed the addition of Rs. 96.60 lakhs, we see no reason to interfere. From the outset, the Revenue had disputed the credits in the account of the assessee stated to be in the nature of plot booking advances. Before the Assessing Officer, the assessee could not produce even the basic documents of application forms which would provide the minimum details such as the name, address and other details of the plot of the applicant. When the applicant was in the business of real estate development and had launched a major project like the present one, such details had to be handy and readily available with the applicant and should be produced before the Assessing Officer in the first place. Be that as it may, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fication. Only to the extent where there was no further material, the Tribunal confirmed the disallowance of Rs. 96.60 lakhs. 9. It can thus be seen that the entire issue is based on appreciation of evidence and essentially a factual one. No question of law arises. 10. Learned counsel for the appellant however placed reliance on judgment dated 29.06.2011 passed by the Division Bench of this Court in Tax Appeal No.651 of 2010. Having perused the judgment, we did not discern any ratio that section 68 of the Act cannot be applied in case of advances received for plot bookings. If all the ingredients of section 68 exist, nothing would prevent the Revenue from invoking the said provision. 11. With respect to the addition of Rs. 26.32 lakhs co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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