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Income Tax Appellate Tribunal, DELHI BENCH ‘F’, NEW DELHI
Before: Sh. Saktijit DeyDr. B. R. R. Kumar
Per Dr. B. R. R. Kumar, Accountant Member:
The present appeal has been filed by the Revenue against the order ld. CIT(A)-9, New Delhi dated 17.04.2018.
The assessee filed return of income declaring income of Rs.3,43,49,400/-. The assessee claimed the expenditure of Rs.1,75,00,000/- and filed revised statement of income of Rs.1,72,27,600/- before the Assessing Officer. The Assessing Officer held that such revision of income by the way of statement cannot be accepted and assessed the income of the assessee at the income filed by the assessee in the return of income of Rs. 3,43,49,400/-.
Aggrieved the assessee filed appeal before the ld. CIT(A) who accepted the claim of revised computation and allowed the expenditure of Rs.1,75,00,000/-.
2 Vakil Housing Developers Corporation P. Ltd. 4. Aggrieved the Revenue filed appeal before us.
In addition to the order of the AO and the order of the ld. CIT(A), we also find that the assessee has filed return of income for the A.Y. 2015-16 declaring a total income of Rs.3,38,75,031/- which includes the addition of differed revenue expenditure of Rs.1,75,00,000/-.
Hence, keeping in view the entirety of the facts, we hold that the ld. CIT(A) has taken a pragmatic view and not a technical view while determining the taxable income of the assessee in accordance with the law. Ergo, the decision of the ld. CIT(A) is hereby re-affirmed.
In the result, the appeal of the revenue dismissed. Order Pronounced in the Open Court on 04/07/2022.