Future Development Expenses provision for unascertained liability by Builder Allowable

Advocate Akhilesh Kumar Sah DCIT Vs Ashiana Housing Ltd. (ITAT Kolkata) Recently, in DCIT vs. Ashiana Housing Ltd. [I.T.A. No. 714/Kol/2018 A.Y.: 2013-14, decided on 06.03.2019], in brief, the appeal was preferred by the Revenue against the order of CIT(A) – 3, Kolkata dated 23.02.2018 and the solitary issue involved therein was raised by the Revenue by way of the following ground: “That on the facts and circumstances of the case and in law, the CIT(A) erred in allowing the future development expenses amounting to Rs. 2,25,01,129/- by ignoring the fact that the said expenses was provision...