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2019 (1) TMI 929 - AT - Income TaxRevenue Expenditure OR Capital expenditure - assessee was following completed contract method - disallowance of expenses as claimed by the assessee in Profit & Loss Account - Held that:- After due consideration of the factual matrix, we find that the revenue is unable to controvert the fact that the assessee was following percentage of completion method which is evident from the aforesaid report of Ld. AO. Nothing on record suggest that there was any change in the accounting policies adopted by the assessee and further, the genuineness of the expenditure is not under dispute since AO has already allowed the capitalization of these expenses. On the above facts and circumstances, we find that the stand of CIT(A) on placing reliance on the decision of this Tribunal in the case of other group concerns, on similar factual matrix, was quite appropriate and logical. The revenue is unable to controvert these decisions by any binding judicial precedents. Therefore, finding no infirmity in the order of Ld. First appellate authority, we dismiss the revenue’s appeal.
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