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2015 (1) TMI 1361 - AT - Income TaxDisallowance of provision for Leave Encashment - Held that:- As decided in assessee's own case restored the matter to the file of AC with a direction to adjudicate the same as per decision of Hon'ble apex Court in the case of Exide Industries Ltd (2008 (9) TMI 921 - SUPREME COURT) Addition u/s 14A - disallowance on account of interest - Held that:- As observed that assessee’s investment in shares and securities from which assessee has earned tax free income is much less than the share capital and reserve and surplus. Therefore, the contention of the assessee is required to be accepted and it is held that no disallowance on account of interest was called for. Accordingly, addition of ₹ 2,69,620/- is deleted and disallowance is sustained only for a sum of ₹ 2,00,484/-. This ground is partly allowed. Deduction on account of provisions of warranty - Held that:- The deduction claimed by the assessee on account of the provisions for warranty is concerned, that is fully covered in favour of the assessee and against the revenue by the judgment of the Hon’ble Supreme Court in the case of Rotork Controls (P) Ltd (2009 (5) TMI 16 - SUPREME COURT OF INDIA) Additional depreciation on Fan & Air Conditioners - claim disallowed by the Assessing Officer for the reason that they are not related to manufacturing activities - Held that:- The finding of the fact by the CIT (A) is that the Fans and Air Conditioners on which disallowance has been made are installed in the factory premises and these findings are not dislodged by the Revenue. In this view of the situtation, we see no infirmity in the deletion of disallowance and we decline to interfere - Decided in favour of the assessee
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