ITAT allows assessee’s amenities charges as part of cost of Flat from Sale Value

Rashmi Mahendra Dhanani Vs ITO (ITAT Mumbai) There are 128 flats in Eternia Co-operative Hosing Society Ltd. No compliance has been received from the society even after repeated reminders. On perusal of the submission received from the builder, Hiranandani Lake Gardens and the group concern M/s. Lake View Developer, AO observed that out of 128 flats in Eternia CHS amenities agreement have been made only in respect of 33 flats. This implies that there was no mandatory arrangement on the part of the builder to split the work into two different agreements, which is contrary to the facts submitted...