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TMI Blog2019 (2) TMI 732X X X X Extracts X X X X X X X X Extracts X X X X ..... carried the matter in appeal before the CIT (Appeals), who held that the assessee was acting merely as a consultant and accordingly reversed the decision of the Assessing Officer. The Revenue carried the matter in appeal before the Tribunal. A perusal of the material on record would show that the CIT(A) and the Tribunal on the basis of evidence on record came to the conclusion that the assessee had not engaged in the business of developing real estate. The assessee had engaged itself, may be, as a consultant out of which activity, the assessee would earn commission at predecided rate. The amounts received by the assessee before completion of the project were in the nature of deposits to be adjusted towards alternate payment to be made u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue carried the matter in appeal before the Tribunal. The Tribunal by the impugned judgment confirmed the decision of CIT(A) making following observations : 8. We have considered the rival contentions and have also gone through the records. We find that the Ld. CIT(A) has passed a very detailed and elaborative order wherein after verification of the records it has been pointed out that the amount received by the assessee was including the expenditure incurred by the assessee which was paid by M/s. A.A. Estate Pvt. Ltd. The amount paid to the assessee has not been claimed by the M/s. A.A. Estate Pvt. Ltd. as expenditure but has only been shown as work in progress. So there was a consistency in the accounts of both the payer and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... find any infirmity in the above well reasoned order of the Ld. CIT(A) and the same is accordingly upheld. 3. A perusal of the material on record would show that the CIT(A) and the Tribunal on the basis of evidence on record came to the conclusion that the assessee had not engaged in the business of developing real estate. The assessee had engaged itself, may be, as a consultant out of which activity, the assessee would earn commission at predecided rate. The amounts received by the assessee before completion of the project were in the nature of deposits to be adjusted towards alternate payment to be made upon completion of the project. We do not find any error in the view of the Tribunal. 4. The tax appeals are dismissed. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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