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2017 (4) TMI 1404 - AT - Income TaxAddition of unexplained expenditure - AO had held that purchases made by the assessee from seven (7) parties were mere accommodation entries - Held that:- In the case of Karsan Nandu (2017 (2) TMI 75 - ITAT MUMBAI) the Tribunal has dealt with the identical issue to hold the transactions as mere accommodation entries and not real purchases is quite different from saying that the sources of expenditure for the purchases from the 7 parties in question have not been explained in the context of Sec. 69C of the Act. Therefore, invoking of Sec. 69C of the Act in the present case to treat the purchases stated to have been made from the 7 parties in question is on a wrong footing. - Decided in favour of assessee. Allowing the VAT expenses - Held that:- AO had made the disallowance without any valid reason, that the assessee had made the VAT payment for the year under consideration are the challans evidencing the payment of VAT on various dates.In these circumstances,we are of the opinion that order of the FAA does not suffer from any infimity. So, confirming the same we decide second effective Ground against the AO.- Decided in favour of assessee.
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