https://www.taxtmi.com/caselaws?id=417012 The Tribunal upheld the CIT(A)'s decision to delete additions of Rs. 1,90,08,157/- and Rs. 3,65,421/- based on "On-money" and indexation cost, respectively. It ruled that the "On-money" belonged to MBDL, preventing double taxation, and classified the shops as capital assets due to the assessee's limited involvement in project operations. The Tribunal emphasized the lack of direct evidence against the assessee and the principle of consistency in similar cases, dismissing the Revenue's appeals. en-us Mon, 03 Jan 2022 00:00:00 +0530 Thu, 13 Jan 2022 09:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417012 The Tribunal upheld the CIT(A)'s decision to delete additions of Rs. 1,90,08,157/- and Rs. 3,65,421/- based on "On-money" and indexation cost, respectively. It ruled that the "On-money" belonged to MBDL, preventing double taxation, and classified the shops as capital assets due to the assessee's limited involvement in project operations. The Tribunal emphasized the lack of direct evidence against the assessee and the principle of consistency in similar cases, dismissing the Revenue's appeals. Case-Laws Income Tax Mon, 03 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417012