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2018 (2) TMI 2093 - ITAT AHMEDABADClaim of on money paid for purchase for the project V-69 scheme - claim of expenditure in proportion to revenue recognised - since the project has not been started during the A.Y. 2009-10 and stated that same will be included in the closing stock of the land - HELD THAT:- As taken into consideration the contention that when the order of the Ld. CIT(A) was passed for A.Y. 2009-10 by that time the return of A.Y. 2011-12 was already filed and books of accounts were also finalized. Therefore the assessee has claimed that 31% of the Revenue of Vedika Exotica Scheme which was recognized during the A.Y. 2011-12 and accordingly claimed 31% of the expenditure during the year under consideration. We observe that above stated fact demonstrate that assessee is justified in claiming the above expenditure during the year under consideration. Therefore, the appeal of the assessee is allowed.
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