TMI Blog2018 (5) TMI 37X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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. - I.T.A. No. 4490/Mum/2016 - - - Dated:- 6-4-2018 - Shri Saktijit Dey, JM And Shri Manoj Kumar Aggarwal, AM Revenue by : Saurabh Kumar Rai, Ld.DR Assessee by : Ramesh Subramanian,Ld.AR ORDER Per Manoj Kumar Aggarwal ( Accountant Member ) 1. The captioned appeal by assessee for Assessment Year [AY] 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... expenses and therefore, since the revenue from the project was offered to tax in impugned AY, the deduction of estimated expenses was allowable to the assessee. However, not convinced, Ld. AO opined that the project was not completed during the impugned AY since completion certificate was received by the assessee in the year 2012 and the assessee was having closing stock of units and therefore, the assessee could generate further revenues in subsequent years and hence, the provisions of expenses was not allowable to the assessee. Accordingly, the same were disallowed and added to the income of the assessee. 3. Aggrieved, the assessee contested the same without any success before Ld. CIT(A) vide impugned order dated 19/05/2016 where Ld. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19. Considering the above facts of the case, the ground of appeal, in so far as it relates to provision of ₹ 50 lakhs, is dismissed. Aggrieved, the assessee is in further appeal before us. 4. The Ld. Authorised Representative [AR] for assessee contended that the provision for expenses has been made in the books of accounts by making fair estimation of the expenses and the same has been paid by the assessee in subsequent years and therefore, the same was not mere provision in nature but a crystallized liability, the deduction of which was available to the assessee. The Ld. AR further submitted that complete details of expenses were furnished to Ld. CIT(A) with documentary evidences which has completely been ignored by Ld. CIT( ..... X X X X Extracts X X X X X X X X Extracts X X X X
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