Incomplete booking-advance records led to remand for fresh assessment and reconsideration of the addition.

Deletion of the addition for advance from booking was not sustained because the factual record was incomplete, particularly on the booking advances and unit-wise cost breakup. In light of the absence of necessary material on record and the approach adopted in the connected assessment years, the issue had to be reconsidered by the Assessing Officer in line with the outcome for the immediately preceding years. The addition was set aside and the matter was remitted for fresh adjudication.

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Issues: Whether the deletion of the addition made on account of advance from booking was sustainable, or whether the matter had to be restored to the Assessing Officer for fresh adjudication.

Analysis: The appeal involved inadequate factual material regarding the advance bookings and the unit-wise cost breakup. In view of the absence of necessary facts on record and the order passed in the connected assessment years, the matter was required to be re-examined by the Assessing Officer in conformity with the outcome for the immediately preceding years.

Conclusion: The deletion of the addition was set aside and the issue was remitted to the Assessing Officer for fresh decision.

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