In the result, the appeal of assessee in ITA
Bench: Shri R.K. Panda & Shri Laliet Kumar
65B of the Indian Evidence Act, it cannot be said to be a receipt of money from buyers of Villas. Firstly, for the purpose of a document to be receipt, it is essential that it should have the following description : I. The name of the person making the payment. II. The date of payment III. The mode of payment