https://www.taxtmi.com/caselaws?id=239394 Allowability of FDI-facilitation expenditure was upheld where correspondence showed services rendered for the transaction, the arrangement was not with a related party, and the payment was not shown to be capital in nature. An addition based on alleged cash payments to sellers was deleted because the assessee was not supplied the relied-upon statements and was denied cross-examination, and the bank deposits alone did not establish undisclosed consideration. A development agreement was treated as a development arrangement, not an agreement to sell, so the security deposit was not taxable as sale consideration and section 28(va) did not apply. Rejection of books and substitution of the percentage completion method were also rejected because the project completion method was consistently followed and double taxation could not arise on the same receipt. en-us Fri, 15 Mar 2013 00:00:00 +0530 Wed, 13 Nov 2013 08:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239394 Allowability of FDI-facilitation expenditure was upheld where correspondence showed services rendered for the transaction, the arrangement was not with a related party, and the payment was not shown to be capital in nature. An addition based on alleged cash payments to sellers was deleted because the assessee was not supplied the relied-upon statements and was denied cross-examination, and the bank deposits alone did not establish undisclosed consideration. A development agreement was treated as a development arrangement, not an agreement to sell, so the security deposit was not taxable as sale consideration and section 28(va) did not apply. Rejection of books and substitution of the percentage completion method were also rejected because the project completion method was consistently followed and double taxation could not arise on the same receipt. Case-Laws Income Tax Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239394