CIT Vs. APPASAMY REAL ESTATES LTD

JUDGEMENT

(1.) This appeal is filed by the revenue against the order of the Tribunal Madras 'A' Bench, dated 19-1-2007 in ITA No. 1612/Mad/2002 raising the following substantial question of law:

(2.) The brief facts are as follows:

(3.) Learned senior standing Counsel appearing for the revenue vehemently contended that the Tribunal is wrong in deleting the addition made by the assessing officer to the income from three flat complexes promoted by the assessee and also contended that the Tribunal has failed to see that the assessee had admitted certain discrepancies in the sale price. He further contended that the Tribunal has failed to see that the assessing officer has made addition of projects to the extent of Rs. 31.53,887 by comparing the other promoter and hence, the order passed by the Tribunal is not in accordance with law and the same has to be set aside.