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2014 (8) TMI 1054 - ITAT JAIPURBogus sale of machinery - Held that:- . It has not been disputed by the ld. AR of the assessee that machinery in question was held as an asset by the company. The assessee produced the details of M/s. Shekhawati Transport Company wherein the GRs bear the stamp of Municipal Council, Kishangarh. The ld. CIT(A) has given an appropriate findings of fact that the machinery was sold by the assessee. - Decided against revenue Addition u/s 68 - CIT(A) allowed part relief - Held that:- The relief of ₹ 59,000/-in respect of addition u/s 68 of the Act has been given verifying the returns filed by the creditors and by relying on the judgemnet of Hon'ble Rajasthan High Court in the case Shree Barkha Synthetics Ltd. vs. ACIT (2005 (8) TMI 67 - RAJASTHAN High Court ) . Thus, in view of the facts and circumstances, we find no infirmity in the order of the ld. CIT(A) which is upheld.- Decided against revenue Addition on unexplained share capital - Held that:- The assessee discharged its primary onus in respect of addition by filing the copies of share application forms, GIR numbers and wards of the shares subscribersthe assessee discharged its primary onus in respect of addition of ₹ 3.30 lacs by filing the copies of share application forms, GIR numbers and wards of the shares subscribers. - Decided against revenue Addition on unrecorded investment / expenses noticed in seized document - Held that:- There is finding of fact given by the ld. CIT(A) that the AO has not mentioned as to how the figure of ₹ 1,42,667/- was arrived at. Since no reasons are mentioned in the assessment order therefore, the ld. DR could not controvert the findings of the ld. CIT(A).- Decided against revenue
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