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2010 (3) TMI 796 - HC - Income TaxBlock assessment - Receipt entry in bill - error - whether amount mentioned as Rs. 45,19,238 is correct or Rs. 1,715 is correct - held that:- Findings have been entered into by the appellate authority and the Tribunal that the inclusion of more than Rs. 45 lakhs under a single receipt, is essentially an error. It is also not in dispute that the Assessing Officer himself did not choose to include the same in the pre-assessment notice. We cannot overlook the argument of the respondent that in the course of the proceedings, the respondent was apparently able to convince the Assessing Officer of the nature of the error. - Decided in favor of assessee Regarding allowance of Depreciation - Held that:- subject to the restrictions imposed in the Explanation to section 158BB, there is no embargo against assessee claiming the benefit of dep. It is entitled to in law, even in proceedings under Chapter XIV-B to do so. decided in favour of Assessee. Estimation of Income on want of Books of Account. Held that:- There is no material or information with him relatable to such evidence also, in regard to the income from the broken period in question. What is done is estimation of income on basis of income ascertained for remaining period on basis of probability. decided in favour of Assessee. Regarding unexplained cost of construction. - Held that:- There is no relevant matter as such which can be relied on by the appellant to justify finding about cost of construction being what was estimated. decided in favour of Assessee.
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