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TMI Blog2019 (6) TMI 597X X X X Extracts X X X X X X X X Extracts X X X X ..... ounts does not establish the genuineness of the expenditure. Hence, we do not find any reason to interfere with the order of the CIT(Appeals). The grounds of appeal are dismissed against the appellant. - I.T.A. No.3169/CHNY/2018 - - - Dated:- 30-5-2019 - SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER For The Appellant : Shri. M.V. Gangadharan, C. A. For The Respondent : Shri. Mathivannan, C. A. ORDER PER INTURI RAMA RAO, ACCOUNTANT MEMBER This is an appeal filed by the Assessee directed against the order of the Commissioner of Income Tax (Appeals)-7, Chennai ( CIT(A) for short) dated 23.08.2018 for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Appellant to the land owners. 7. On the ground that the entire POA transactions are outside the tax ambit, the entire disallowances are to be deleted namely 1. Discounts ₹ 77,58,200/- 2. Commission ₹ 5, 00,000/- 3. Development Cost ₹ 19,72,951/- Therefore, the entire transactions and disallowances are to be voided totally. 8. Therefore it is prayed that the CIT Appeals (7) order upholding the assessment be set aside and Justice and Equity rendered . 3. The brief facts of the case are as under: The appellant is an individual engaged in the business of executing civil and stru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... development expenditure, commission paid and deleted the addition made u/s.14A of the Act. 5. Aggrieved by the order of the ld. Commissioner of Income Tax (Appeals), assessee is in appeal before us. It is contended that the profit cannot be brought to tax since the property was sold in the capacity of holding power of attorney. In respect of the claim for deduction of discount, development expenditure and commission paid, copies of ledger abstract were filed. 6. On the other hand, the ld. Sr. Departmental Representative placed reliance on the orders of lower authorities. 7. We heard the rival submissions and perused the material on record. The contention that profit arising on account of sale ..... X X X X Extracts X X X X X X X X Extracts X X X X
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