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2016 (2) TMI 619 - AT - Income TaxDenial of deduction of cost of selling - denial on the ground that in the agreement to sale with DSKDL there is no mention of this cost to be incurred by the assessee and that the amount has not been quantified at all - Held that:- We find an identical issue had come up before the Tribunal in the case of other group members namely Smt. Shilpa M. Kulkarni and other connected appeals has decided the issue in favour of the assessee and against the Revenue observing as when the AO in the case of D.S. Kulkarni & Co. has also raised similar queries as raised by the present AO and after elaborately recording the various details submitted by the assessee in the order sheet, copies of which are placed at pages 329 to 343 of the paper book has accepted the MOU as genuine and no addition/disallowance was made on account of such development expenditure which was claimed by the assessee as cost of selling, therefore, we find no reason as to how and why the AO in the case of the present assessee held that the socalled MOU was an afterthough and self-created and self-serving document especially when the order passed in the case of D.S. Kulkarni & Co. is prior to the assessment order passed in the instant case and the same has not been disturbed by the CIT u/s.263 of the I.T. Act till now. As following the decision of the Coordinate Bench of the Tribunal in the case of other group members and in absence of any contrary material brought to our notice by the Ld. Departmental Representative against the order of the Tribunal, we find no infirmity in the order of the CIT(A) allowing the claim of cost of selling amounting - Decided against revenue
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