TMI Blog2009 (11) TMI 72X X X X Extracts X X X X X X X X Extracts X X X X ..... a builder. In the course of assessment the Assessing Officer made addition to the declared income on the basis of the valuation of the work in progress. CIT (A) upheld the valuation of the assessee. The CIT (A) took into account affidavit filed before it by the assessee reiterating its stand. The view taken by the CIT (A) was upheld by the Tribunal, rejecting the contention that additional affida ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proposing to raise the following substantial questions of law:- "(i) Whether on the facts and in the circumstances of the case, the ITAT Amritsar Bench, Amritsar was justified in law while deleting the additions of Rs. 20,21,710/- by including the provision for future expenses in the value of the work in progress as on 31.03.2003 relying on the affidavit filed by the assessee which was never pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken into account, as doing so would violate Rule 46A of the Income Tax Rule 1962. The Tribunal observed as under:- "...16. The affidavit filed by the assessee before the learned CIT (A) was in reiteration of the above contention. Therefore, there was no error on the part of the CIT (A) in admitting such affidavit. Rather, it was erroneous on the part of the A.O. To hold that the third and fou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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