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2013 (10) TMI 919 - AT - Income TaxDisallowance of discounting charges/ interest - Held that:- On the appreciation of the entire material / evidence placed by the assessee before the A.O. in the fresh round of proceedings, the learned CIT (A) has recorded a categorical finding that these expenses were incurred during the course of business - Apart from relying on the assessment order, the learned Departmental Representative could not controvert the findings given by the learned CIT(A) in support of the grant of deduction - D.R. has not brought before us any distinguishable fact which may justify departure from the findings of the co-ordinate bench of the tribunal given for the preceding year based on similar facts and circumstances - the order of the ld. CIT(A) deleting the disallowance relating to the issue is upheld – Decided against Revenue. Disallowance of interest on call money – Held that:- The claim of assessee is certainly allowable in favour of the assessee - the payment of interest on the amounts of the call money stands in the same footing as payment of like interest in the same amount, therefore, such interest constitutes revenue expenditure - the order of the CIT (A) is reasonable and it does not call for any interference - DR has not brought any distinguishable fact which may justify departure from the findings of the co-ordinate bench of the tribunal given on similar facts and circumstances in the case of group concern of the assessee - the order of the ld. CIT(A) deleting the disallowance relating to this issue is also upheld – Decided in favour of Assessee.
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