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2014 (11) TMI 1193 - AT - Income TaxRejection of books of accounts - Held that:- Tribunal in assessment year 2008-09, being the year of search, did not agree with the view entertained by AO and accordingly deleted the income estimated by rejecting the books of account. A.R submitted that the additions made in all the three cases under consideration in AY 2008-09 has been deleted by the Tribunal on identical reasoning. The year under consideration is the year succeeding the year of search. AO has not brought any other material on record except placing reliance on the assessment orders passed in AY 2008-09, which has since been reversed by the Tribunal. AO was not justified in rejecting the books of account and estimating the income. Accordingly, we confirm the action of the CIT(A) in all the three cases. Disallowance u/s 40(a)(ii) - assessee submitted that the assessee have already made disallowance u/s 40(a)(ii) in their respective returned incomes and hence no further disallowance is called for - Held that:- We do not find any merit in the ground raised by the revenue in this regard. However, if the AO finds that any of the assessee did not make the said disallowance in the returned income, the AO is free to make the said disallowance after affording the opportunity of being heard to the Assessee. - Appeals filed by the revenue are dismissed.
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