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2012 (11) TMI 135 - ITAT JAIPURDeletion of Disallowance due to devaluation of Indian currency - foreign exchange fluctuation – Held that:- The liability, is on revenue account being stated to be against raw material purchase and not on capital account. Claim to the assessee be allowed on payment basis – in favour of assessee. Interest u/s. 244A – Held that:- No refund by way of a banking instrument having been received, it is the date of the passing of the order of adjustment / set off of the refund amount against outstanding demand that the refund and, thus, the interest can be said to have been allowed to the assessee. – a separate and distinct proceedings, and to that extent, much in the same manner as where a debt in relation to an income assessed is written off or a credit in respect of a liability allowed as an expenditure is written back - matter is restored back to the file of the AO for fresh adjudication – appeal partly allowed. Deletion of disallowance of security expenses – Held that:- Expenditure incurred on the provision of security at the residence of the Managing Director, could not be considered as his personal obligation, and having been incurred for and in the interest of the assessee, is, therefore, allowable u/s. 37(1) of the Act and same could at best be considered as a perquisite allowed by the assessee - in favour of revenue. Travelling Expenses – Held that:- Bill is for a group package, comprising lunch, rent, dinner, breakfast etc., and which would not by itself evidence or clarify the purpose for which the said expenditure was incurred, nor would the dates of arrival/departure of the group - matter be restored back to the file of the AO to allow an opportunity to the assessee to press this issue before him, furnishing all the relevant details and materials. Bad and doubtful debts written off – substantiation of its claim by the assessee - Held that:- There can be no double claim, i.e., both in the year of provision as well as in the reversal thereof when the debtor’s account stands obliterated from its account by the assessee - restore the matter back to the file of the ld. CIT(A) for clarifying the details which were available on the file of the AO. Deletion of sum for the relevant year - on the basis of the findings by the tribunal in the case of the assessee for the assessment year 2001-02 – Held that:- Same did not pertain to the relevant year but to the subsequent year, i.e. relevant to the assessment year 2002-03 - CIT(A) directed the AO to consider the assessee's claim for the current year, and allow it subject to verification - no infirmity in the impugned order - In the result, the Revenue’s appeal is partly allowed and partly allowed for statistical purposes.
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