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2015 (12) TMI 1678 - DELHI HIGH COURTAddition in respect of export sale proceeds, bogus duty drawback, unsecured loan, sales outside books, advance received from customers and cash deposits - additions made essentially on the basis of the statement of Mr. Manoj Gupta, partner of the Assessee - ITAT deleted the addition - Held that:- CIT (A) undertook a detailed examination of the material to return a finding that none of the additions were called for. The documents placed by the Assessee on record were held sufficient to demonstrate that the amount received by the Assessee was indeed towards the export sale proceeds and no bogus duty drawback was received by the Assessee. Therefore the duty drawback received could not be treated as the Assessee’s unexplained income. In any event, the whether the duty drawback was wrongly received by the Assessee could be decided only when the DRI proceedings concluded. As far as the income tax proceedings were concerned, the duty drawback had to be treated as having been received in relation to export sales made by the Assessee. The materials with regard to each of the above additions were examined by the CIT (A) and found not to be justified. In the impugned order, the ITAT has discussed the evidence in detail and has concurred with the above factual findings of the CIT (A). No substantial question of law arises. - Decided in favour of assessee.
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