Queens Foundations P Ltd., CHENNAI V. ITO Corporate Ward 5(3), CHENNAI

ITA 2965/CHNY/2017

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 3288 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 2 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-02-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 04-12-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: CHENNAI , ! . , ' BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER , AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ./ ITA NO.2965/CHNY/2017 /ASSESSMENT YEAR: 2014-15 M/S.QUEENS FOUNDATIONS PVT. LTD., 50, 2 ND FLOOR, ARCOT ROAD, VALASARAVAKKAM, CHENNAI-600 087. VS. THE INCOME TAX OFFICER, CORPORATE WARD-5(3), CHENNAI-34. [PAN: AAACQ 2340 L ] ( & /APPELLANT) ( '(& /RESPONDENT) & ) / APPELLANT BY : MR.K.BALASUBRAMANIAN, ADV. '(& ) /RESPONDENT BY : MR.AR.V.SREENIVASAN, JCIT ) /DATE OF HEARING : 14.02.2019 ) /DATE OF PRONOUNCEMENT : 14.02.2019 / O R D E R PER GEORGE MATHAN, JUDICIAL MEMBER : ITA NO.2965/CHNY/2017 IS AN APPEAL FILED BY THE AS SESSEE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEAL S)-3, CHENNAI, IN ITA NO.270/2016-17/CIT(A)-3 DATED 27.10.2017 FOR TH E AY 2014-15. 2. MR. AR.V.SREENIVASAN, JCIT, REPRESENTED ON BEHAL F OF THE REVENUE AND MR.K.BALASUBRAMANIAN, ADV., REPRESENTED ON BEHA LF OF THE ASSESSEE. ITA NO.2965/CHNY/2017 :- 2 -: 3. IT WAS SUBMITTED BY LD.AR THAT ALL THE DETAILS I N RESPECT OF THE SITE EXPENSES HAVE BEEN PRODUCED BEFORE THE AO. IT WAS A SUBMISSION THAT THE ASSESSEE HAD CLAIMED RS.10,12,874/- UNDER THE H EAD SITE EXPENSES. IT WAS A SUBMISSION THAT THE AO ALLEGING THAT THE A SSESSEE HAD NOT PRODUCED THE EVIDENCES AND ESTIMATED THE DISALLOWAN CE OF 30% AT RS.3,03,862/-. IT WAS A SUBMISSION THAT ALL THE EV IDENCES HAVING BEEN PRODUCED BEFORE THE AO, NO DISALLOWANCE HAD BEEN CA LLED FOR. 4. THE PAPER BOOK OF THE ASSESSEE, WHEREIN, THE DET AILS OF THE SITE EXPENSES WERE ENCLOSED, HAD BEEN DIRECTED TO BE VER IFIED WHETHER THE SAME HAD BEEN PRODUCED BEFORE THE AO OR NOT. THE L D.DR SUBMITTED THAT ON VERIFICATION, IT WAS NOTICED THAT THE SITE EXPE NSES DETAILS TO THE EXTENT OF RS.8,64,071/- HAD BEEN PRODUCED BEFORE THE AO. IT WAS A SUBMISSION THAT THE SAME HAD BEEN PRODUCED ON 07.11.2016 JUST BEFORE COMPLETION OF THE ASSESSMENT ON 30.11.2016. 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. 6. THE AO HAS MENTIONED THAT THE EVIDENCES ARE NOT PRODUCED BEFORE HIM. SUBSEQUENTLY, ON DIRECTION FROM THE TRIBUNAL, THE LD.DR HAS VERIFIED AND CONFIRMED THAT TO THE EXTENT OF RS.8,64,071/- A S AGAINST THE CLAIM OF RS.10,12,874/-, EVIDENCES HAVE BEEN PRODUCED BEFORE THE AO. THIS BEING SO, THE AO IS DIRECTED TO ALLOW THE ASSESSEES CLAI M OF SITE EXPENSES TO THE EXTENT OF RS.8,64,071/- AS AGAINST RS.10,12,874 /- CLAIMED BY THE ITA NO.2965/CHNY/2017 :- 3 -: ASSESSEE. THUS, CONSEQUENTLY, THE DISALLOWANCE MADE BY THE AO TO THE EXTENT OF RS.3,03,862/- STANDS REDUCED TO RS.1,48,8 03/-. 7. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS PARTLY ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 14 TH DAY OF FEBRUARY, 2019 IN CHENNAI. SD/- SD/- ( . ) ( A. MOHAN ALANKAMONY ) ! /ACCOUNTANT MEMBER ( ) (GEORGE MATHAN) ! /JUDICIAL MEMBER /CHENNAI, 1 /DATED: 14 TH FEBRUARY, 2019. TLN ) '23 43 /COPY TO: 1. & /APPELLANT 4. 5 /CIT 2. '(& /RESPONDENT 5. 3 ' /DR 3. 5 ( ) /CIT(A) 6. /GF