2013 (8) TMI 142

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....lenging the judgment of the Income Tax Appellate Tribunal ('the Tribunal' for short) dated 23.03.2012 raising following substantial questions of law for our consideration:      "(i) Whether in the facts and circumstances of the case, the learned ITAT has erred in law in confirming the order of the CIT(A) deleting the disallowance of deduction of Rs. 74,49,731/- u/s. 80IB(10)....

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..... Counsel for the revenue candidly pointed out that such decision came up for consideration before this Court reported in Radhe Developers (supra). This court made following observations:      "36. We have noted at some length, the relevant terms and conditions of the development agreements between the assessees and the land owners in case of Radhe Developers. We also noted ....

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....or labour contractor for execution of the work. The assessee was authorized to admit the persons willing to join the scheme. The assessee was authorised to receive the contributions and other deposits and also raise demands from the members for dues and execute such demands through legal procedure. In case, for some reason, the member already admitted is deleted, the assessee would have the full r....

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....lotted by the assessee in favour of the members enrolled would be appropriated towards the land price. Eventually after paying off the land owner and the erstwhile proposed purchasers, the surplus amount would remain with the assessee. Such terms and conditions under which the assessee undertook the development project and took over the possession of the land from the original owner, leaves little....