2022 (10) TMI 664

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..... who had booked the flats through the appellant, since Mr. Dalvi did not construct the flats as agreed by him earlier - HELD THAT:- The findings of fact recorded by the assessing officer, which have been affirmed right till the High Court, are (i) the appellant had entered into a Memorandum of Understanding dated 10.04.1985 with one Shirish Dalvi, a developer who was to acquire certain pieces an .....

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..... s compensation by the assessee has been brought to tax as income from other sources. We do not find any justification and reason to hold that this amount received was not taxable being a capital receipt. Whether or not the amount would be taxable as income from business or income from other sources, need not be examined and answered in the present case. Appeal dismissed. - Civil Appeal No. 31 .....

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..... pieces and parcels of the land in Village Barve, Taluka Kalyan and thereupon construct residential buildings/apartments; (ii) the appellant had collected funds from prospective members of the proposed society; (iii) these funds were transferred to Shirish Dalvi; (iv) subsequently, Shirish Dalvi faced legal problems in acquiring the land and in obtaining clear title and necessary permissions; (v) .....

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