2011 (11) TMI 847

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....ellaneous Application, being M..A.No.38/Hyd/2010, seeking recall of the order dated 18.12.2009, insofar as it related to issue of payment of commission raised in grounds No.7 and 8 and also with regard to issue of valuation of land as on 1.4.1981, raised in ground N.16 to 19. The Tribunal acceded to the request of the assessee, and recalled the order of the Tribunal dated 18.12.2009, in relation to the above two issues, vide its order dated 7th May, 22010, with the following observations- "3. We have considered rival submissions and perused the material available on record. We agree with the contention of the learned counsel for the assessee. While disposing of the appeal, the additional evidence filed by the assessee relating....

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....pported the earlier order of the tribunal, wherein the grounds of the assessee on this issue are rejected. M/s. Gulf Oil Corporation Ltd., Hyderabad 3 6. We have heard both the parties and perused the record. In this case, the assessee has filed additional evidence through a petition under Rule 29 of the Appellate Tribunal Rules, 1962 and also filed a sworn affidavit supporting the claim of the assessee. We have gone through the additional evidence filed by the assessee, wherein the employer of Shri V.G. Gurnani, namely, M/s. Aasia Management & Consultancy (P) Ltd. Mumbai filed a confirmation letter dated July 22, 2009, stating that Shri V.G.Gurnani has assisted the assessee in the development of its property at 2nd Main Road, 18th Cross....

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.... identity of the payee and the factum of payment is established, the payment cannot be allowed as expenditure unless there is evidence of services rendered in connection with the transaction. The same principle has to be applied with regard to allowability of commission in computing the capital gains. In our considered view entering of commission agreement at a later date is only after thought and hence the commission payment is not allowable as deduction. In view of the above, we are in agreement with the view taken by the lower authorities and accordingly we confirm the disallowance of Rs. 61 lakhs made by the lower authorities and dismiss the ground of the assessee." 8. However, the Tribunal has not considered the additional evidence ....