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2011 (3) TMI 696 - AT - Income TaxDisallowance u/s 80IB - Assessing Officer noticed that the assessee company had claimed deduction under section 80-IB of the Act of Rs. 62,99,329, as per Form No. 10CCB - as per the revenue, assessee does not fulfil the condition prescribed in clause (iii) of sub-section (2) of section 80-IB and, therefore, the claim of deduction under section 80-IB is liable to be denied - Held that: the claim is sought to be denied on valid grounds and without disturbing the claim in the initial year because the circumstances in the initial year have not undergone any change - Decided against the assessee Disallowance u/s 40A(3) - assessee admitted that in some cases payment in cash exceeding Rs. 20,000 had been made as the concerned parties refused to accept payments by cheques and that the payments were made to transporters under exceptional circumstances - assessee has not been able to establish with evidence that the payments exceeding Rs. 20,000 were made under exceptional and unavoidable circumstances - Decided against the assessee Disallowance u/s 37(i) - Capital or revenue expenditure - company has been operating for the last many years and minor replacement of parts in various machines have to be made year after year - Held that: expenditure was in the manner of replacement of a part of a machine and was allowable as revenue expenditure - Decided in favour of the assessee Disallowance u/s 36(1)(iii) - Commissioner of Income-tax (Appeals) has adjudicated the alternative ground raised by the assessee by way of Ground No. 5.3 seeking directions to the Assessing Officer for the claim of depreciation in case capitalization of expenditure is upheld - Decided in favour of the assessee by way of remand
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