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2004 (4) TMI 29 - HC - Income Tax1. Whether, Tribunal had erred in law in deleting the additions regarding underweighing which were duly supported by the material on record and finding of fact is perverse? - 2. Whether Tribunal was right in law in reducing the disallowances made by the Assessing Officer to an arbitrary hypothetical figure without any basis and when the same were not supported by the vouchers or books of account? - 3. Whether Tribunal was justified in setting aside the interest paid to the wife of the assessee when it was proved that the loan was advanced not for business purposes and whether the said deduction in contravention of section 36(1)(iii) of the Act? - we reverse the view taken by the Tribunal in all these three issues and restore the view taken by the Assessing Officer
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