ITAT directs Re adjudication with respect to Advance received against Booking of Flats [Read Order]

ITAT Mumbai - ITAT - Income Tax - ITAT re-adjudication decision - Advance booking flats ITAT - ITAT directive on flat booking - Taxscan

The Two member bench of Income Tax Appellate Tribunal ( ITAT ) of Mumbai  directed readjudication with respect to parties who advance received against booking of flats. The Assessee, Cavalcade Properties Pvt. Ltd is engaged in the business of real estate development and related activities who filed its return of income by  declaring total loss…

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