Court :
ITAT New Delhi
Brief :
This appeal filed by the Assessee against the Order of Ld. CIT(A)-24, New Delhi for Assessment Year 2012-13 dated25.7.2016 wherein, the addition of Rs. 2,44,00,000/- made by the AO with respect to the closing stock was upheld. Assessee by Sh. Shashwat Bajpai, Advocate Department by Sh. Satpal Gulati, CIT(DR)
Citation :
ITA NO. 5034/DEL/2016
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH: ‘A’, NEW DELHI
BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER
AND
SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER
(THROUGH VIDEO CONFERENCE)
ITA NO. 5034/DEL/2016
A.Y. : 2012-13
M/S BECON CONSTRUCTIONS
PVT. LTD.,
B-2/5, PLOT NO. 2, ASHOK
NAGAR, DB GUPTA ROAD,
NEAR FAIZ CHOWK,
KAROL BAGH,
NEW DELHI – 110 005
(PAN: AACCB9387Q)
(Appellant)
Vs
ACIT,
CENTRAL CIRCLE-8,
NEW DELHI
(Respondent)
ORDER
PER H.S. SIDHU, JM:
This appeal filed by the Assessee against the Order of Ld. CIT(A)-24, New Delhi for Assessment Year 2012-13 dated25.7.2016 wherein, the addition of Rs. 2,44,00,000/- made by the AO with respect to the closing stock was upheld. Assessee by Sh. Shashwat Bajpai, Advocate Department by Sh. Satpal Gulati, CIT(DR)
2. The grounds of appeal by the Assessee are as under:-
1. That on the facts and circumstances of the case the Ld. CIT(A) grossly erred in confirming the addition of Rs. 2.44 crores on the following factsa.
a.Because the Ld. CIT(A) has rejected the claim of reduction of closing stock which has not been the subject matter of additions made by the AO therefore, the enhancement made by the Ld. CIT(A) is without any opportunity given to the assessee so it is liable to be deleted.
b. Because the Ld. CIT(A) has not given proper opportunities to the assessee of enhancing the claim of stock in hand thereby the requirements of section 251(2) of the Act has not been complied with.
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