2026 (1) TMI 1657

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....he appeal in ITA No. 448/AGR/2025 for AY 2012-13, arises out of the order of the ADD/JCIT(A), Chennai [hereinafter referred to as 'ld. JCIT(A)', in short] dated 29.08.2025 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') dated 30.03.2015 by the Assessing Officer, DCIT, Circle-2, Gwalior (hereinafter referred to as 'ld. AO'). 2.....

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....section 132 of the Act was carried on in the business premises of Shri Gopal Krishan Agarwal and their family on 08.07.2011. In the course of such search, some loose papers / transactions pertaining to the Assessee were found. Accordingly, after following the due process of law, notice under section 153C of the Act was issued to the Assessee on 26-9-2013 directing the Assessee to file its return o....

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....nd other type of buildings. The Learned AO observed that Assessee had claimed the earthwork at site expenses for Rs 16,86,875/- and site development expenses for Rs 10,28,401/-. The Assessee was asked to produce the supporting vouchers for verification of the genuineness of these expenses. The details filed by the Assessee were found to be incomplete by the Learned AO and Learned AO concluded that....

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.... the course of assessment proceedings had produced the complete ledger account comprising the details of site expenses and road expenses along with sample invoices for the same. The Assessee had also furnished the vouchers which are duly signed by the recipients and proved the fact that all the payments were made through regular banking channels and none of the expenditures were incurred by cash. ....