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2014 (2) TMI 175 - AT - Income TaxDeletion made u/s 10(23C)(vi) of the Act – Deletion made on vehicle expenses – Held that:- The Assessing Officer disallowed the claim of the assessee for the reason that the order passed by the ITAT, Jaipur Bench for restoring the registration u/s 12AA of the Act had been challenged before the Hon'ble High Court – but nothing is brought on record to substantiate that the said order has been set aside or reversed - the Assessing Officer while calculating the application of income had not considered the application towards capital expenditure, however, admitted in his remand report that if the capital expenditure was to be considered the application of income was at 96.29% of the income/receipts, therefore, the assessee fulfilled the conditions - the AO failed to bring any material on record that the notification dated 23/3/2007 of the CBDT for granting exemption u/s 10(23C)(vi) of the Act had been rescinded - CIT(A) was fully justified in deleting the addition made by the Assessing Officer – Decided against Revenue.
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