R.S. Syal, Accountant Member. - This appeal by the assessee is directed against the order passed by the Commissioner of Income-tax (Appeals) on 11.09.2008 in relation to the assessment year 2001-02.

2. The learned Counsel for the assessee filed application for admission of the following additional ground reading as under :-

"On the facts and in the circumstances of the case, the learned Commissioner of Income Tax (Appeals) XXIV, Mumbai, erred in confirming the order of the Assessing Officer in respect of charging receipt of Rs. 20,00,000 and notional market value of flat amounting to Rs. 19,06,800 to be received from developers under the head "Capital Gains", particularly when, the developer has not fulfilled the conditions stated in Agreement for development dated November 11, 1999 and thus not complied with requirements of Section 53A of Transfer of Property Act and therefore the transaction is not covered by section 2(47)(v) of the Income Tax Act, 1961."

3. In support of the admission of this additional ground, the learned A.R. submitted that it involved only adjudication of substantial question of law and no fresh facts were required to be examined. The learned Departmental R