DCIT, CIRCLE - 8(1), KOLKATA, KOLKATA vs. M/S. ASHIANA HOUSING LIMITED , KOLKATA
In the result, the appeal of the revenue is dismissed
ITA 714/KOL/2018[2013-14]Status: DisposedITAT Kolkata06 Mar 2019AY 2013-14
Bench: Shri P.M. Jagtap & Shri A. T. Varkey, Jm] I.T.A. No. 714/Kol/2018 Assessment Year: 2013-14 Dcit, Circle – 8(1)Kolkata.................................…………………………………………………Appellant Aayakar Bhawan, 5Th Floor, P-7, Chowringhee Square, Kolkata – 700 069. [Pan: Aadca 9093 P] M/S. Ashiana Housing Limited...................………………………………………………….Respondent 11G, Everest, 46C, Chowringhee Road, Kolkata – 700 071. Appearances By: Shri Shankar Halder, Jcit, Sr. Dr Appearing On Behalf Of The Revenue. Shri Arvind Agarwal, Advocate & Shri Rajat Agarwal, Fca Appearing On Behalf Of The Assessee. Date Of Concluding The Hearing : January 08, 2019 Date Of Pronouncing The Order : March 06, 2019 Order Per P.M. Jagtapthis Appeal Is Preferred By The Revenue Against The Order Of Ld. Cit(A) – 3, Kolkata Dated 23.02.2018 & The Solitary Issue Involved Therein Is Raised By The Revenue By Way Of The Following Ground: “That On The Facts & Circumstances Of The Case & In Law, The Ld. Cit(A) Erred In Allowing The Future Development Expenses Amounting To Rs. 2,25,01,129/- By Ignoring The Fact That The Said Expenses Was Provision For Unascertained Liability.”
Section 143(3)Section 145
…wing the same method of accounting for a number of years. 4 M/s. Ashiana Housing Limited I.T.A. No.714/Kol/2018 Assessment Year: 2013-14 The A/R of the appellant placed reliance on the decision in the case of Consulting Engineering Services (India) Limited, 250 ITR 849 (Delhi) for the proposition that “Where a system of accounting (which includes allocation of indirect expenses) is consistently adopted and followed, the same cannot be altered in subsequent years”. On going through the submissions of the assessee it has been stated that this method of accounting regularly followed by the assessee has always been…
