Addit'n by AO held nt justified for nt accepting construct'n cost without reason
Nov. 26, 2015
Assessee-firm did construct'n work. In return showed certain amt. as cost of construct'n. AO made addition u/s 69B. CIT(A) deleted it holding, construction cost to be accepted as per a/c books On appeal, Tribunal upheld it. HC held, AO was not confronted with any defects in assessee's books of a/c & has not given any valid reasons for not accepting cost, though he accepts that method of accounting was mercantile. Thus,deletion was justified.