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2014 (4) TMI 438 - AT - Income TaxDisallowance of expenses – Held that:- There was no infirmity in the finding of CIT(A) - The CIT(A) has considered all the facts in detail - the AO has not pointed out any defect or expressed even doubt with regard to any particular expenses - The disallowance has been made purely on adhoc basis - the adhoc disallowance was found to be without basis – thus, there is no need to interfere in the order of the CIT(A) – Decided against Revenue. Validity of Assessment u/s 153A of the Act – No pending proceedings – Held that:- The AO is directed to verify whether there is any credit during the accounting year relevant to the assessment year under consideration either in the books of the assessee or in the books of the partnership firm, viz., M/s BLK Furnishers and Contractors - If there is no fresh credit during the year either in the assessee’s books or in the books of the firm taken over by the assessee, the addition for the unexplained credit cannot be made in the hands of the assessee in the assessment year - if there is a fresh credit, then the Assessing Officer will certainly examine the same in accordance with the provisions of Section 68 – Decided in favour of Assessee. Disallowance of expenses on wages – Held that:- As decided in assessee’s own case for the previous assessment year, it has been held that, the disallowance has been set aside – thus, by following the same the disallowance is set aside – the order of the CIT(A) upheld - Decided against Revenue.
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