https://www.taxtmi.com/caselaws?id=758280 ITAT Delhi held that External Development Charges collected by real estate developer from flat buyers constituted advance for common facilities, not taxable income, as project remained incomplete and charges were reimbursable without profit element. Regarding addition under Section 43CA for sales below circle rates, ITAT upheld CIT(A)'s decision to complete assessment after verification rather than remanding to AO, as circle rates were unavailable during original assessment. Addition under Section 68 for non-provision of buyers' PAN details was deleted, as mere non-submission of PAN details insufficient for disallowance when other buyer details were provided. Revenue's appeal dismissed on all grounds. en-us Fri, 06 Sep 2024 00:00:00 +0530 Wed, 11 Sep 2024 09:07:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758280 ITAT Delhi held that External Development Charges collected by real estate developer from flat buyers constituted advance for common facilities, not taxable income, as project remained incomplete and charges were reimbursable without profit element. Regarding addition under Section 43CA for sales below circle rates, ITAT upheld CIT(A)'s decision to complete assessment after verification rather than remanding to AO, as circle rates were unavailable during original assessment. Addition under Section 68 for non-provision of buyers' PAN details was deleted, as mere non-submission of PAN details insufficient for disallowance when other buyer details were provided. Revenue's appeal dismissed on all grounds. Case-Laws Income Tax Fri, 06 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758280