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TMI Blog2020 (7) TMI 175X X X X Extracts X X X X X X X X Extracts X X X X ..... order dated 16th March, 2018 in MA Nos. 12 & 13/Hyd/2018, the Tribunal recalled the order passed in ITA Nos. 646 & 648/Hyd/2016 only for adjudication of the alternate ground raised by the assessee. That is how, the appeals came up for hearing again to deal with ground No. 11 raised by the assessee, which is as follows: 11. Without prejudice to ground No.1 to 6, the Ld. Commissioner of Income Tax (Appeals) erred in observing that if the sources were held to be from M/s. SPR Infrastructure (India) Ltd., then also, the amount of Rs. 30,89,000/- is liable to be taxed u/s 2(22)( e) of the Act in spite of the fact that the amount represents advance received by the appellant on the proposed purchase of plot by M/s SPR Infrastructure (India) Ltd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were held to be from SPRIIL, the amount is liable to be taxed u/s 2(22)(e) of the Act. Aggrieved, the assessee filed an appeal before the Tribunal. Ground No. 11 is the alternate ground which is to be decided now. before the Tribunal. 4. The learned counsel for the assessee submitted that the Tribunal has accepted the source of the deposits as advances received from M/s SPRIIL and hence has deleted the said addition made u/s 69A of the Ac. He has now filed additional evidence by mail before the Tribunal and submitted that the transaction of sale of property to SPRIIL is a business transaction and that pursuant to the said transaction only, the assessee has received an advance of Rs. 30,89,000/-. He submitted that the assessee is a directo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (22)(e) are not applicable. The CIT(A), thereafter, did not examine the business exigency or the purpose for which the assessee has received the advance from SPRIIL, but, has given a finding that the amount is liable to tax u/s 2(22)(e) of the Act also. Since the evidence filed by the assessee before the Tribunal is additional evidence and it goes goes to the root of the matter, I deem it fit and proper to admit the same and since the additional evidence was not filed before the authorities below, due to which, there was no occasion to examine the same by the AO and CIT(A), I remand the matter to the file of the AO with a direction to examine the business exigency of the advances of Rs. 30,89,000/- received by the assessee and decide the is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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