2019 (1) TMI 1343

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....nt(s) : None JUDGMENT The appellant has preferred the present appeal under Section 260-A of the Income Tax Act, 1961 impugning the order dated 23.05.2017, passed by the Income Tax Appellate Tribunal, Jodhpur Bench, Jodhpur (hereinafter referred to as the 'Tribunal'). The appellant has portrayed the following substantial question of law to be involved in the present appeal and prayed that ....

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....owed his concern regarding a provision made by the assessee for project expenses to the tune of Rs. 4.87 crores. The assessee came forward with an explanation that the said amount was in relation to work already performed by the contractor qua development of its on going project and the same was duly included in the closing stock of Rs. 37,64,07,367/-, while giving complete details of the closing ....

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....rores has been included in the closing stock, it would have no impact on the profit. The department assailed the order of Commissioner (Appeals) before the Income Tax Appellate Tribunal by way of Appeal No.493/JODH/14. The learned Members of the Tribunal dismissed the same vide its order dated 23.5.2017 and upheld the order of Commissioner (Appeals). Impugning the order of Commissioner (Appe....

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....icer, the assessee had pointed out that the provision had been made in view of the work done by the contractor in its on-going project worth Rs. 12 crore. The assessee stated that though the work had been completed by the contractor, but bills were not raised in wake of some dispute with the contractor for the quality of construction. The liability in respect of work already done had been determin....