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2024 (1) TMI 152 - ITAT AGRAWorking out profit as per the percentage of completion method OR project completion method - disallowing part of the expenses claimed by it as deduction - disallowance in this case is admission by one of the director - CIT(A) deleting the addition because the applied percentage completion method in assessment order is correct as the "Project Completion Method" was not in existence before 01.04.2003. HELD THAT:- The aspect that disallowance in this case is admission by one of the director is ignored by the Ld. CIT(A). He has accepted the explanation that the admission was wrong. The Ld. CIT(A) has accepted the detailed submissions in this regard and observed that he has examined these submissions and the books of the assessee. We find that these aspects considered by the Ld. CIT(A) were never before the Assessing Officer. We find that this is contravention of Rule 46A. Hence, in the interest of the justice, we remit this issue to the file of the Assessing Officer to consider the issue afresh considering the submission made before the Ld. CIT(A). Appeal filed by the Revenue stands allowed for statistical purposes.
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