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2018 (5) TMI 37 - AT - Income TaxDeduction of certain expenses claimed by the assessee against the project namely Balaji Galaxy - accrual / crystallization of these expenses in the impugned AY - Held that:- AO has noted that the project was not completed in the impugned AY and the assessee had unsold inventory in the Balance Sheet, which could not be controverted by Ld. AR. As per the submissions of Ld. AR, the provisions for expenses was not a mere provision but a fair estimation of the expenses which had accrued during the impugned AY and therefore, allowable to assessee. AR has also contended that complete working / details thereof was submitted to Ld. CIT(A) during appellate proceedings, which has completely been ignored. Prima facie, we concur with the said submission. Therefore, on factual matrix, we deem it fit to restore the matter back to the file of Ld. CIT(A) to re-appreciate the claim of the assessee and re-adjudicate the same with a direction to the assessee to demonstrate accrual / crystallization of these expenses in the impugned AY.
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