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TMI Blog2014 (9) TMI 1025X X X X Extracts X X X X X X X X Extracts X X X X ..... d in giving direction to the Assessing Officer to consider the source of investment in the year of sale. In these circumstances, we set aside the directions of the learned CIT(A) and hold that it is not a fit case for making the addition under S.69. See M/s. Manas Greenland Pvt. Ltd., Hyderabad Versus Income Tax Officer (OSD) [2014 (12) TMI 399 - ITAT HYDERABAD ] - Decided in favour of assessee - ITA No. 498/Hyd/14 - - - Dated:- 24-9-2014 - P. M. Jagtap (Accountant Member) And Saktijit Dey (Judicial Member) For the Petitioner : K. C. Devadas For the Respondent : Kiran Katta ORDER P. M. Jagtap (Accountant Member) This appeal filed by the assessee is directed against the order of the learned Commissioner of Income-t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y to the fixed assets during the year under consideration. The said addition claimed to be on account of development expenses incurred in respect of land could not be substantiated by the assessee company by filing the relevant details or documentary evidence. The Assessing Officer, therefore, treated the said addition to the fixed assets as unexplained investment and the amount of ₹ 2,16,044 was added by him to the total income in the assessment completed under S.143(3) of the Act, vide order dated 24.12.2009 3. Against the order passed by the Assessing Officer under S.143(3), appeal was preferred by the assessee before the learned CIT(A) and the following submissions were made on its behalf before the learned CIT(A) in support of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as to be considered in the subsequent relevant years when the land is sold. He therefore, directed the assessee to file the complete details of the relevant expenses allowing with supporting evidence, so that the claim of the assessee on account of addition to fixed assets representing cost of acquisition can be considered in the relevant year. 5. Aggrieved by this direction of the learned CIT(A), assessee has preferred this appeal before the Tribunal 6. We have heard the arguments of both the sides and also perused the relevant material on record. As agreed by the learned representatives of both the sides, a similar issue involving identical facts has come to be decided by the SMC Bench of this Tribunal in the case of other group com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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