9911796707
TMI Blog2009 (12) TMI 47X X X X Extracts X X X X X X X X Extracts X X X X ..... irect expenditure in respect of four projects namely Yesodha, Blossom, Gayathri and Krishna arcade – held that - It is clear from the assessment order where the amount of Rs.12,29,025/- claimed as expenses has been accepted by the assessee itself that the claim should be disallowed. - However, the assessee filed an appeal by stating that the commission and brokerage in respect of procurement of land have not been granted as expenses incurred by the assessee. Both before the First Appellate Authority and the Tribunal, this stand has been taken by the assessee. We are unable to appreciate the arguments of the learned counsel for the assessee, as what was disallowed by the Assessing Officer was on the consent given by the assessee regarding ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a sum of Rs.12,29,025/- towards direct expenses, namely, site electricity, site expenses, commission, rent etc. The Assessing Officer chose to disallow the direct expenditure in respect of four projects namely Yesodha, Blossom, Gayathri and Krishna arcade. On appeal, the Commissioner confirmed the disallowances on the ground that the assessee was following the project completion method and the appellant did not offer any income from those projects. 4. Aggrieved against the order of the Commissioner, the assessee preferred an appeal to the Tribunal on the premise that the direct expenditure claimed by the assessee by way of site electricity, site expenses, commission, rent etc. are direct expenses, which are incurred by the appellant on d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the assessee itself that the claim should be disallowed. For the sake of clarity, we reproduce the observation available in the assessment order, which is as follows: "The assessee's AR was asked to explain that why the assessee company has not offered any income from the above said four projects and why construction cost was claimed against those projects. In response to same, the assessee's AR explained that the assessee company has not offered any income from the said four projects because these projects are not yet started. The assessee's AR also expained that those projects are not yet started is evident from the facts that the assessee company has not claimed any land cost against those projects. Since the said four projects ..... X X X X Extracts X X X X X X X X Extracts X X X X
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