Aman City Developers (P) Ltd. v. ACIT

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The Tax Publishers2023 TaxPub(DT) 4147 (Chd-Trib) IN THE ITAT, CHANDIGARH BENCH A.D. JAIN, V.P. & VIKRAM SINGH YADAV, A.M. Aman City Developers (P) Ltd. v. ACIT ITA No. 158/CHD/2020 5 July, 2023 Assessee by: Parikshit Aggarwal, Chartered Accountant Revenue by: Tarundeep Kaur, Senior Departmental Representative ORDER *Vikram Singh Yadav, A.M.* This is an appeal filed by the assessee against the order of the learned Commissioner (Appeals)-2, Chandigarh dated 30-11-2019 pertaining to assessment year 2015-16 wherein the assessee has taken the following grounds of appeal:- (1) That on the facts, circumstances and legal position of the case, the Worthy Commissioner (Appeals) in Appeal No. 10429/2/2017-18 has erred in passing that order in contravention of the provisions of section 250(6) of the Income Tax Act, 1961. (2) That on law, facts and circumstances of the case, the Worthy Commissioner (Appeals) has erred in confirming the action learned assessing officer wherein he had erred in making the impugned additions beyond the issues for which the case was selected under 'Limited Scrutiny guidelines' and therefore the impugned additions deserves to be deleted. (3) That on law, facts and circumstances of the case, the Worthy Commissioner (Appeals) has erred in confirming the action learned assessing officer wherein he had erred in making addition of Rs. 2,12,45,569 by enhancing the declared closing stock value by said amount which is 51% of the land cost even when the value of closing stock already declared by the appellant was as per accepted method of accounting and which too was being consistently followed by the appellant. (4) That the appellant craves leave for any addition, deletion or amendment in the grounds of appeal on or before the disposal of the same. 2. Ground No. 1 is general in nature, does not require any specific adjudication. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2023 TaxPub(DT) 4147 (Chd-Trib)

IN THE ITAT, CHANDIGARH BENCH

A.D. JAIN, V.P. & VIKRAM SINGH YADAV, A.M.

Aman City Developers (P) Ltd. v. ACIT

ITA No. 158/CHD/2020

5 July, 2023

Assessee by: Parikshit Aggarwal, Chartered Accountant

Revenue by: Tarundeep Kaur, Senior Departmental Representative

ORDER

Vikram Singh Yadav, A.M.

This is an appeal filed by the assessee against the order of the learned Commissioner (Appeals)-2, Chandigarh dated 30-11-2019 pertaining to assessment year 2015-16 wherein the assessee has taken the following grounds of appeal:-

(1) That on the facts, circumstances and legal position of the case, the Worthy Commissioner (Appeals) in Appeal No. 10429/2/2017-18 has erred in passing that order in contravention of the provisions of section 250(6) of the Income Tax Act, 1961.

(2) That on law, facts and circumstances of the case, the Worthy Commissioner (Appeals) has erred in confirming the action learned assessing officer wherein he had erred in making the impugned additions beyond the issues for which the case was selected under 'Limited Scrutiny guidelines' and therefore the impugned additions deserves to be deleted.

(3) That on law, facts and circumstances of the case, the Worthy Commissioner (Appeals) has erred in confirming the action learned assessing officer wherein he had erred in making addition of Rs. 2,12,45,569 by enhancing the declared closing stock value by said amount which is 51% of the land cost even when the value of closing stock already declared by the appellant was as per accepted method of accounting and which too was being consistently followed by the appellant.

(4) That the appellant craves leave for any addition, deletion or amendment in the grounds of appeal on or before the disposal of the same.

2. Ground No. 1 is general in nature, does not require any specific adjudication.