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2013 (4) TMI 111 - HC - Income TaxDisallowance on account of unverifiable purchase - Held that:- In the above circumstances, in our considered view, the Commissioner of Income Tax(Appeals) was fully justified in deleting the disallowances, which were made on surmises and conjectures alone. The assessee had pointed out that the payments were made through cheque and that there was some further evidence of receipt of goods. No interference is called for. This our view is also supported by the decision of Hon'ble Jurisdictional High Court in the case of ACIT v. Akruti Dyeing & Printing Mills Pvt. Ltd (2009 (1) TMI 104 - GUJARAT HIGH COURT ), wherein exactly the same issue, went before Hon'ble High Court and it is confirmed - Revenue's appleal is dismissed.
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