https://www.taxtmi.com/caselaws?id=772685 ITAT Mumbai remanded the case to AO for fresh examination regarding addition under Section 28(iv) concerning amounts received for ten flats whose sale agreements were cancelled/terminated. The tribunal required establishment of five key factual positions with documentary evidence: sale consideration treatment in turnover and stock adjustments for AY 2006-07, cost accounting for the flats, treatment of survey declaration of Rs. 5.10 crores net profit, status of buyer's liquidation, and current status of flats never delivered due to pending payments. The tribunal found these factual determinations necessary to decide whether any benefit accrued under Section 28(iv) as alleged by AO. Appeal allowed for statistical purposes. en-us Wed, 28 May 2025 00:00:00 +0530 Thu, 12 Jun 2025 07:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772685 ITAT Mumbai remanded the case to AO for fresh examination regarding addition under Section 28(iv) concerning amounts received for ten flats whose sale agreements were cancelled/terminated. The tribunal required establishment of five key factual positions with documentary evidence: sale consideration treatment in turnover and stock adjustments for AY 2006-07, cost accounting for the flats, treatment of survey declaration of Rs. 5.10 crores net profit, status of buyer's liquidation, and current status of flats never delivered due to pending payments. The tribunal found these factual determinations necessary to decide whether any benefit accrued under Section 28(iv) as alleged by AO. Appeal allowed for statistical purposes. Case-Laws Income Tax Wed, 28 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772685