TMI Blog2012 (3) TMI 684X X X X Extracts X X X X X X X X Extracts X X X X ..... and in law, the Ld. Commissioner of Income Tax (Appeals) has erred in restricting the addition of ₹ 21,55,000/- to ₹ 1,07,250/- i.e. 0.5% as against 10% made by the Assessing Officer on the gross receipt. (2.1) The Ld. Commissioner of Income Tax (Appeals) ignored the fact that the assessee did not file any evidence in support of the expenses claimed in profit and loss account and the fact that the books of account were correctly rejected by the Assessing Officer u/s. 145(3) of the IT Act. (3) The appellant craves leave to add, to alter, or amend any grounds of the appeal raised above at the time of the hearing. 3. Briefly stated the facts of the case are that the assessee is a private limited company. The asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs of the Ld. Commissioner of Income Tax (Appeals) and the Tribunal referred to above. I find that the appeals of the Revenue have been dismissed in the cases of M/s Rishikesh Buildcon Pvt. Ltd. and M/s Rupa Promoters Ltd for assessment year 2006-07. However in the case of M/s Rishikhesh Properties Pvt. Ltd. it is seen that the disallowance of ₹ 34,00,000/- (8% of ₹ 4,25,00,000) made by the Assessing Officer out of expenses in assessment year 2006-07 was reduced to 0.5% by Ld. Commissioner of Income Tax (Appeals). Against the said order the Ld. Commissioner of Income Tax (Appeals) the department preferred appeal before ITAT who in ITA No. 2061/D/2009 vide their order dated 18.12.2009 restored the matter back to the file of Asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owance is called for but only quantum is in dispute. We therefore remit the matter back to the file of the Assessing Officer. The Assessing Officer shall arrive at a finding as to which expenses are not allowable and for what reason. For this purpose the Assessing Officer may also refer to the past history of the assessee as well as subsequent years assessment records to find out the profitability of the assessee. The assessee may also place other comparable cases on record. The assessee is also required to justify allowability of expenses claimed. 7. We find that facts of the present case are analogical to the one discussed above by the tribunal. Adhering to doctrine of stare decisis, we also remit the matter back to the file of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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