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HC remanded matter to decide genuineness of exp. claimed as demurrages for delay in execution of projects

April 8, 2020[2020] 116 taxmann.com 40 (Karnataka)
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INCOME TAX : Where assessee was engaged in business of real estate development, etc. and it claimed project expenses under head demurrages for delay in execution of project to tune of Rs. 54 lakhs and Assessing Officer disallowed claim and Tribunal doubted genuineness of entry made in books of account by assessee to tune of Rs. 54 lakhs and confirmed order of Assessing Officer, since revenue had disputed genuineness of entry made in books of account, matter was to be remanded to Tribunal to pass a fresh order

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