2020 (2) TMI 1684

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....e. ORDER PER AMIT SHUKLA, J.M.: The aforesaid appeals have been filed by the Revenue against the common impugned order dated 23.08.2016, passed by Ld. Commissioner of Income Tax (Appeals)-XXIII, New Delhi for the quantum of assessment passed u/s.153A/143(3) for the Assessment Years 2012-13, 2013-14 and 2014-15. The common grounds raised in all the appeals read as under: "1. The o....

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....ts in brief are that in all the three years, Assessing Officer has noted that assessee has received advance against property from the following companies: S. No. Name of Entity/Concern Amount of advance (in Rs.) 1. M/s. Amrapali Infrastructure Pvt. Ltd. (Advance against property) 73,19,50,557/- 2. M/s. Hi tech City Developers Pvt. Ltd. (Advance against property) 4,22,21,....

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....nal. 5. Before us, ld. DR has filed the copy of ITAT order in ITA No.6780/Del/2013 for the Assessment Year 2011-12 wherein the Tribunal has dealt and decided this issue by following the order of the Tribunal in Assessment Year 2009-10 in ITA No.4836/Del/2014 which reads as under:- "7. After considering the submissions of the Ld. D.R, we are of the view that the matter requires reconsid....

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....o the file of the Ld. assessing officer with a direction to the assessee to show before him that how the about transaction of receiving loan from a firm to the assessee free of interest where a company where the assessee is director which is provided huge interest free funds to such firm is not chargeable to tax as income under section 2(24)(iv) of the act. The Ld. AO may examine the arguments of ....