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2014 (6) TMI 372 - AT - Income TaxNon-allowability of deduction u/s 80IA of the Act – Held that:- This is not the claim which is made for the first time before the Tribunal – the FAA has followed the decision rendered by the Tribunal in the assessee’s own case with the understanding that the Tribunal has confirmed the disallowance of claim made u/s 80IA of the Act - the disallowance made u/s 80IA only in respect of the projects undertaken in the earlier years - the matter of claim for deduction u/s 80IA was restored back to the file of the CIT(A) for fresh examination – thus, the matter is liable to be remitted back to the CIT(A) for fresh consideration - Decided in favour of Assessee. Deletion of disallowance u/s 14A of the Act – Held that:- As decided in assessee’s own case for the earlier assessment year, it has been held that the assessee has got sufficient interest free funds and the investments were made out of interest free funds only - there is no reason to interfere with the order passed by CIT(A) - the investments have been made out of interest free funds and further the investments continue in the year also – there is no reason to take a contradictory stand – thus, the order of the CIT(A) is upheld. Expenses claimed on repair of New Sand bins – Held that:- The AO has disallowed the claim on the reasoning that it was capital expenditure - the Sand bins were already in existence and they were in dilapidated condition - the assessee incurred above said expenses in repairing the Sand bins and it is in the nature of Current repairs - CIT(A) has accepted the contentions of the assessee by considering the facts and circumstances – thus, there was no reason to interfere in the order – Decided against Revenue.
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