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
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.