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2014 (4) TMI 242 - HC - Income TaxPayments made to sub-contractors – Genuineness could not prove - there was a report of the inspector stating that the premises had been vacant and some of the persons had never worked from their residential premises nor was it possible to recognise these persons in the vicinity, concluded that these were bogus parties. The Assessing Officer also noted that the address given was identical and they were registered from a single place. - AO deemed it fit to disallow a sum of Rs. 3.40 crores made towards expenses claimed - Tribunal deleted the additions – Held that:- The Tribunal exhaustively noted the details furnished by both the sides and also quoted the CIT(A) to conclude that on due opportunity afforded to both the sides, the CIT(A) had approached the issue properly - the Tribunal noted that it did not find any reason to disbelieve the evidence - the entire issue is based on factual matrix - From the sufficiency of evidence, when the Tribunal has held in favour of the assessee and when no question of law much less substantial question of law has arisen – thus, there is no need for interference. Deletion u/s 40(a)(ia) of the Act - Whether the Tribunal is right in deleting the addition made u/s 40(a)(ia) of the Income-tax Act on account of payment of transportation charges – Held that:- The decision in CIT v. Gujarat Narmada Valley Fertilizers Co. Ltd. [2014 (4) TMI 235 - GUJARAT HIGH COURT] followed - the amendment in section 40(a)(ia) of the Income-tax Act by the Finance Act of 2010 has retrospective effect – Decided against Revenue.
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