2019 (6) TMI 597

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....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 Assessment Year (AY) 2013 -2014. 2. The Assessee raised the following grounds of appeal: 1. 'The o....

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.... order of the C.I.T Appeals (7) upholding the A.O order, taxing the Appellant is to be annulled on the basis of Consistency. 6. The C.I.T Appeals (7) and the A.O have assessed a sum of Rs. 16,59,818/- as net profit not offered. This is totally disputed as the Proforma Land Account for A.Y 2013-14 submitted showed a net loss of Rs. 8,40,182/- and not profit. Further the transactions on the....

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....income for the assessment year 2013-14 was filed disclosing total income of Rs. 55,46,350/-. Against the said return of income, the assessment was completed by the Assistant Commissioner of Income Tax, Non Corporate Circle 7(1), Chennai (herein after referred as ''AO') vide order dated 31.03.2016 passed u/s. 143(3) of the Income Tax Act, 1961 (for short 'the Act') at total income of Rs. 1,78,4....

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....icer also made an addition of E4,05,814/- u/s.14A of the Act. 4. Being aggrieved by the above additions, an appeal was preferred before ld. CIT(A), who vide impugned order confirmed the additions in respect of sale of property, discount, 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 (....