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2014 (9) TMI 888 - HC - Income TaxDisallowance of 50% of expenses on making charges paid to karigars – Held that:- The AO in the remand report could not point out and controvert the documents and details provided - Genuineness of the documents was not doubted - The similar expenditure had been allowed in the earlier years also – there was no reason to interfere with the order passed by the Tribunal - The submission that the Tribunal has not gone into specific details and the order requires interference is without merit – Decided against revenue. Additions u/s 68 of the Act and other additions – unverified or unexplained cash credit - failure to substantiate and file confirmation of loans - Held that:- Due to paucity of time and the fact that many cases were taken up simultaneously, relevant details and confirmations could not be furnished - The additional evidences were then furnished to the Assessing Officer for his comments, who in the remand report, given by the Deputy Commissioner of Income Tax, Central Circle-XXIII, stated that in view of the additional evidence furnished, credit/loan was genuine - this would not affect and should not be construed as a positive finding by the High Court on question of telescoping surrender and the impact or effect. Notice u/s 153A – Held that:- The AO in the second remand report on several accounts/additions accepted that the additional evidence placed on record was sufficient to show that the transactions were genuine and addition could not be sustained - In respect of other amounts/transactions, not accepted by the AO in the remand report, Revenue was aggrieved by the order passed by the CIT(A) and was the appellant before the Tribunal – thus, the order fo the Tribunal is upheld – Decided against revenue.
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