TMI Blog2015 (9) TMI 1291X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee. The assessee is, therefore, directed to submit the factual information and proper cost records to the Assessing Officer, not merely the photograph, so as to substantiate its claim. The assessee is also given liberty to file proper estimation from registered valuer. To carry out the above direction of the bench, the entire issue is restored on the file of the AO - Decided in favour of Revenue for statistical purpose. - ITA No.9/Bang/2015 - - - Dated:- 4-9-2015 - SHRI N.V VASUDEVAN AND SHRI S RIFAUR RAHMAN, JJ. For The Appellant : Smt. Neera Malhotra, CIT For The Respondent : None ORDER PER SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER : This appeal by the Revenue is against the order of the Commissioner of Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion. She further stated that his answers and explanations will be binding on her. 6. Shri PN Manjunath submitted the cost and revenue computation based on the % of completion method. Cost computation % completion method Assessment Year 2003-04 2004-05 2005-06 2006-07 200708 2008-09 % of completion 24% 23% 27% 26% Cumulative 24% 47% 74% 100% Cost ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. Based on the above information and observations, income of the year computed as below by the AO: Rs. A. Income from Business/Profession As declared 3,99,099 Add: (i) Sale of flats income offered for the period 01.04.06 to 31.03.07 (A.Y 2007-08) 11,40,593 Total Taxable Income 15,39,692 9. During the course of hearing with learned CIT(A), the assessee filed letter dated 21.12.2009 along with calculations addressed to the AO in which it was claimed that these were pending works relating to the project Soundarya Nivas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ared for the assessee. We therefore proceed to decide the appeal on merits after hearing the submissions of the learned DR. 14. The learned DR submitted as under : (a) the assessee had not submitted any bifurcation of professional income and income from sale of flat at the time of hearing with the Assessing Officer. (b) The assessee not filed any books of accounts even on repeated request by the AO. (c) The learned CIT(A) had considered the additional cost based on the photograph submitted by the assessee. It is not proper evidence to estimate the pending works. (d) The addition of income by the AO was based on the submission made by the assessee s husband Shri PN Manjunath, which was binding on her because of deposition u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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