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2014 (9) TMI 1024 - AT - Income TaxDisallowance on account of creditors and expenses - Held that:- There is no dispute to the fact that the A.O. as well as the ld. CIT(A) has not invoked the provisions of section 145(3) of the Act. Therefore, no addition on account of creditors and expenses can be made and addition so made is directed to be deleted. As regards the unsecured loans of ₹ 2,50,000/-, the same are loans pertaining to the preceding year and no part of the same has been raised during the year, therefore, the ld. CIT(A) is not justified in sustaining the same and the same are directed to be deleted. - Decided in favour of assessee Deduction u/s 80-IB - Held that:- None of the authorities below have placed on record, which condition laid down u/s 80IB has not been fulfilled by the assessee. Further, the ld. counsel for the assessee has submitted written submissions stating that the assessee has been allowed deduction u/s 80IB of the Act under the same conditions as in the preceding year and there was no change in the facts & circumstances in the preceding year. AO himself has mentioned with regard to claim of deduction under section 80IB being the 5th year of the business of the assessee and claim of deduction @ 100% under section 80IB was allowed. In the facts and circumstances and following the doctrine of consistency, the ld. CIT(A) is not justified in confirming the action of the A.O u/s 80IB of the Act. Thus CIT(A) is not justified in confirming the action of the A.O. inspite of the fact that the onus has been discharged by the assessee - Decided in favour of assessee
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