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TMI Blog2021 (7) TMI 483X X X X Extracts X X X X X X X X Extracts X X X X ..... the AO or the CIT(A) to substantiate that the assessee has received its share of 35% of sales receipts in the period relevant to AY 2017-18. Considering the fact that this factual aspect is required to be examined, we deem it appropriate to restore this issue back to the file of AO for denovo examination. AO shall tax the assessee s share in sale considered from the project in the year of actual ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... development agreement dated 27.12.2010 was executed by the assessee with M/s Nirman Trimurti Developers for construction of a project at Pisoli Pune. As per the agreement, the assessee was eligible to receive 35% of the gross sales receipts from the sale consideration of aforesaid project. The assessee received its share of receipts from M/s Nirman Trimurti Developers in FY 2016-17 i.e. relevant t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned order and prayed for dismissing the appeal of assessee. The learned DR submitted that the assessee has not placed on record any documentary evidence to show that the amount was in fact received by the assessee in the period relevant to the AY 2017-18. On the contrary, M/s Nirman Trimurti Developers have offered the amount to tax during the period relevant to the AY 2016-17 and as per assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... axable in the impugned assessment year. Thus, the dispute is with regard to the year of taxability. M/s Nirman Trimurti Developers the co-developer of the project has offered the sales receipts to tax in AY 2016-17. We find that the assessee has not furnished documentary evidences before the AO or the CIT(A) to substantiate that the assessee has received its share of 35% of sales receipts in the p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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