TaxTMI 
TaxTMI 
2020 (2) TMI 1684
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....he 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 order of ld. CIT (A) is not correct in law and on ....
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....ed 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) 4,22,21,918/- Total 77,41,72,475/- 4. The Assessing Officer held that the amount has been r....
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....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 reconsideration at the level of the A.O. The Ld. CIT(A) in this case following his Order for the A.Y. 2010-20....
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....out 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 the assessee and decide the issue afresh in accordance with the law after granting assessee adequate opport....