MARG PROPERTIES LTD.,CHENNAI vs. DCIT CORPORATE CIRCLE 4(1), CHENNAI

This appeal by the assessee is directed against the order passed by the learned Commissioner of Income Tax(Appeals)-8, Chennai, dated 22.08.2017 in for the assessment year 2012- 13 passed U/s. 250(6) r.w.s. 143(3) of the Act.

The assessee has raised six grounds in its appeal however the crux of the issue is that the Ld.CIT(A) has erred in confirming the Ld.AO amounting to Rs.1,47,84,000/- towards disallowance of excess expenditure.

The brief facts of the case are that the assessee is a limited company engaged in the business of constructing and selling residential apartments, filed its return of income for the assessment year 2012-13 electronically on 30.09.2012. The case was selected for scrutiny and assessment order was passed U/s.143(3) of the Act on 31.03.2015 wherein the Ld.AO made addition of Rs.1,47,84,000/- towards disallowance of excess business expenditure. On appeal the Ld.CIT(A) dismissed the appeal of the assessee because none appeared before him at the time of hearing.

At the outset, the Ld.AR submitted before us that the assessee was under great stress and therefore he was not able to pursue the appeal before the Ld.CIT(A). It was further pleaded that one more opportunity may be granted to the assessee of being heard. The Ld.DR on the other hand vehemently opposed to the submission of the Ld.AR and pleaded for confirming the orders of the Ld.Revenue Authorities.

We have heard the rival submissions and carefully perused the materials on record. Though we do not appreciate the lethargic attitude

In the result the appeal of the assessee is allowed for statistical purposes. Order pronounced in the open court on the 19th September, 2018 at Chennai.