M/S SHANTIPUSHPA ASSOCIATES,BILASPUR(CG) vs. I.T.O. WARD 1(1), BILASPUR(CG)

ITA 102/BIL/2015Status: DisposedITAT Raipur22 October 2018AY 2010-1113 pages
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What did the Tribunal hold?

The Tribunal dismissed the appeal regarding the disallowance of Rs. 1,25,000 on account of expenses, finding the assessee failed to provide sufficient evidence. For the provision of expenses, the Tribunal directed the AO to re-calculate the profit based on a specific method, partly allowing the assessee's grounds.

What were the facts?

The assessee, a partnership firm, declared a total income of Rs. 4,17,820. The Assessing Officer made additions for disallowed expenses and provision for future expenses, increasing the total income significantly. The CIT(A) partially deleted some additions and sustained others.

What were the issues?

Whether ad-hoc disallowances of expenses without rejecting books of account are justified, and whether provision for future expenses on sold area is allowable.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 145(3)

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Income Tax Appellate Tribunal, RAIPUR BENCH : RAIPUR

Before: SHRI R.K. PANDA & MS. SUCHITRA KAMBLE

For Appellant: Shri Sunil Kumar Agrawal, CA &, Ms Lakshmi Sharma
For Respondent: Shri V.B. Sargar, DR
Hearing: 10.08.2018Pronounced: 22.10.2018

PER R.K. PANDA, AM: This appeal by the assessee is directed against the order dated 12th January, 2015 of the CIT(A), Bilaspur, relating to Assessment Year 2010-11. 2. The facts of the case, in brief, are that the assessee is a partnership firm engaged in the business of civil contractor and builder. It filed its return of income on 25th March, 2011 declaring total income at Rs.4,17,820/-. The Assessing Officer completed the assessment u/s 143(3) determining the total income at Rs.1,22,94,010/- wherein he

made additions of Rs.2,50,000/- by disallowing an amount of Rs.2,50,000/- on estimate basis out of the aggregate expenditure of Rs.9,41,721/- in respect of salary,

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The order continues below.

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