2013 (6) TMI 741

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..... eerya ORDER Dr. O. K. Narayanan (Vice-President) These two cross appeals filed by the Revenue and the assessee relate to the assessment year 2008-09. The cross appeals are directed against the order of the Commissioner of Income-tax(Appeals)-III at Chennai, dated 15-4-2011 and arise out of the assessment completed under section 143(3) of the Income-tax Act, 1961. 2. We will first .....

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..... 93,00,000/-. This against the total disallowance of ₹ 14,18,77,251/-. 4. The very same issue was considered by us in the appeal filed by the Revenue for the assessment year 2007-08 in ITA No.1097(Mds)/2011, disposed of by us through our order of even date. We have confirmed the decision of the Commissioner of Income-tax(Appeals) on this point for the detailed reasons recorded therein. Fol .....

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..... als) on this point is confirmed. 6. The Revenue has raised one more ground that the Commissioner of Income-tax(Appeals) has not followed Rule 46A of the Income-tax Rules, 1962 while disposing of the first appeal. We do not find any merit in this argument advanced by the Revenue. All the details were furnished before the Assessing Officer himself. No fresh materials were filed before the Commiss .....

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..... s very important because the business of the assessee is purchasing land and developing it. In developing the land, we have already seen the nature of the expenditure, while dealing with the issue of land development expenses in assessee s own case for the assessment year 2007-08. Likewise, in the case of payments relating to purchase of land and land development expenditure, it is quite inherent .....

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..... ts. It is only after excluding all such exigencies that would be covered by Rule 6DD, the Assessing Officer can confirm the balance of disallowance, if any. Accordingly, this issue is set aside and remitted back to the Assessing Officer for fresh disposal in accordance with law. 11. The second ground raised by the assessee is regarding the levy of interest under sections 234B and 234C of the Ac .....

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