[aaykarbhavan] Advance received for allotment of commercial space in an unapproved project held as deemed dividend

Advance received for allotment of commercial space in an unapproved project held as deemed dividend

April 15, 2014[2014] 43 taxmann.com 325 (Mumbai - Trib.)

IT: Where assessee claimed a certain sum from companies as advance against allotment of some commercial space in a project but no approved plan of said project was produced, conduct of assessee clearly established concealment of facts and filing of inaccurate particulars and penalty was leviable upon assessee

 

Regards

Prarthana Jalan

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