IN SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 3185 OF 2011 MANOJ B. JOSHI APPELLANT VERSUS 8TH INCOME TAX OFFICER AND ORS. RESPONDENTS ORDER findings of fact recorded by assessing officer, which have been affirmed right till High Court, are (i) appellant had entered into Memorandum of Understanding dated 10.04.1985 with one Shirish Dalvi, developer who was to acquire certain pieces and parcels of land in Village Barve, Taluka Kalyan and thereupon construct residential buildings/apartments; (ii) appellant had collected funds from prospective members of proposed society; (iii) these funds were transferred to Shirish Dalvi; (iv) subsequently, Shirish Dalvi faced legal problems in acquiring land and in obtaining clear title and necessary permissions; (v) thereupon, another Memorandum of Understanding dated 01.12.1989 was arrived and executed between appellant and Shirish Dalvi, pursuant to which amount received from proposed members was Signature Not Verified refunded Digitally signed by SONIA BHASIN Date: 2022.09.03 12:03:48 IST Reason: to appellant, albeit this amount has not been brought to tax as income of appellant, but another amount of Rs. 29,11,000/- (Rupees Twenty Nine Lakh and Eleven Thousand Only) received statedly as compensation by assessee has been brought to tax as income from other sources. In view of factual background, we do not find any justification and reason to hold that this amount received was not taxable being capital receipt. Whether or not amount would be taxable as income from business or income from other sources, need not be examined and answered in present case. appeal is accordingly, dismissed without any order as to costs. Pending application(s), if any, shall stand disposed of. . .J. [SANJIV KHANNA] . .J. [J.K. MAHESHWARI] NEW DELHI; AUGUST 30, 2022. sb Manoj B Joshi v. 8th Income-tax Officer and Or