2023 (10) TMI 307

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....R Present for: For the Appellant by : Shri Siddarth Agarwal, Advocate For the Respondent by : Shri P. P. Barman, Addl. CIT, Sr. DR O R D E R PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the assessee is against the order of Ld. CIT(A), National Faceless Appeal Centre (NFAC), Delhi vide Appeal No. ITBA/NFAC/S/250/2022-23/1050540758(1) dated 09.03.2023 passed against ....

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.... 13,99,71,432/- which principally resulted in a loss of Rs. 17,25,690/-. Ld. AO called for details and explanations towards major expenses claimed under the head "Other Expenses/Miscellaneous expenses". In this respect assessee produced a detailed list of particulars for site expenses claimed in the P&L Account for an amount of Rs. 3,67,37,203/-. However, Ld. AO by observing that assessee has not ....

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....r as well as subsequent years vis-à-vis the turnover of the assessee. From the said chart, ld. Counsel submitted that claim of assessee towards site expenses is more or less range bound from 19.1% in AY 2017-18 to 25.52% in AY 2016-17. He also submitted that no such disallowance has been made in the preceding as well as subsequent years and that there is no basis of adopting 20% to make an ....

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....rm the actions of the authorities below. 6. We have heard the rival contentions and gone through the material placed before us. We note that assessee is a company engaged in the business as railway contractor and supplier. Assessee has furnished the break-up of site expenses which it has claimed in its P&L Account. Ld. AO has adopted ad-hoc percentage of 20% to make a disallowance towards site ....