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2012 (10) TMI 745 - AT - Income TaxDisallowance of “Shortage, Damages, Moisture” expenses - Held that:- The AO has grossly failed to make out any case for making such huge disallowance out of claim duly supported by evidences and details on record. He has casually discussed that turnover of the appellant with M/s. Vippy was 'bit' percentage only without varying the facts on record. As for making any disallowance u/s 37(1) again recourse to provision of section 145 what is required to be established is that either the claim is ingenuine, bogus or Incurred for nonbusiness purpose/consideration or is excessive vis-a-vis some comparable case' or the past history of the appellant's case but nothing of the sort has been done by AO and based on some vague discussion, he has made such un-narrated disallowance, which is neither justified in facts nor in law. The disallowance made at Rs. 15 lakh is hereby deleted - in favour of assessee. Addition in respect of amount credited in the Bank account through R.T.G.S - CIT(A) deleted the addition - Held that:- On verifying the letter issued by Bank of India, Khandwa Branch, confirming the transaction made with TATA Chemicals Limited through RTGS the amount of Rs. 56.50 lacs was received by assessee from company for purchase of Soya bean on its behalf. Accordingly, there is no infirmity in the order of the CIT(A) for deleting the addition as per fpositive material on record - in favour of assessee.
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