2010 (9) TMI 151

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....resent appeal has been filed under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as "Act") challenging the order dated 24th July, 2009 passed by the Income Tax Appellate Tribunal (in short "Tribunal") in IT(SS)A Nos. 395/Del/2003 and 509/Del/2003 for the Block Period 01st April, 1989 to 10th February, 2000. 2. Mrs. Prem Lata Bansal, learned counsel for the Revenue submitted ....

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....equire adjudication at our end is whether the notings on different pages of annexure A-12 in fact demonstrate the incurrence of expenses by the assessee out of books. The contention of the assessee in brief was whatever has actually been incurred by it that has been debited in the books of accounts. In this computerized sheet only projected figures are available which are to be forwarded to Shri C....

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....ave actually been incurred. But wherever it is just an amount is mentioned, Ld. First Appellate Authority took it as expenses upto the date of search these have been shown in the books. It was constructing the building on behalf of the third concern. There can be no motive to conceal the cost of construction because cost of construction had not to be incurred from its own account. It is Shri Chand....