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2015 (7) TMI 1120 - HC - Income TaxFollowing substantial question of law framed: 1. Whether on facts and in law, the Tribunal is right in confirming adhoc disaalowance made by assessing officer and confirmed by CIT(A) to the extent of ₹ 9,63,569/@ 2.5% of total Weaving charges of ₹ 3,85,42,779? 2. Whether on facts and in law, the Tribunal is right in confirming adhoc disallowance on presumptions and surmises and without any material on record observing only that there is possibility of some inflation in weaving charges? 3. Whether on facts and in law, the Tribunal is right is confirming adhoc disallowacnce even when Assessing Officer has accepted book results and reply given by assessee for low G.P. Rate in assessment order itself? 4. Whether on facts and in law, the Tribunal is right in confirming adhoc disallowance even after accepting finding of CIT (A) that assessee has fully substantiated claim of weaving charges and Assessing Officer has not brought any material to prove contrary?
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