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2016 (5) TMI 1546 - AT - Income TaxDisallowance u/s 14A r.w.r. 8D - HELD THAT:- Considering assessee's own case [2015 (6) TMI 412 - ITAT MUMBAI] and assertions made by the ld. respective counsel, if kept in juxtaposition and analyzed, we find that considering the totality of circumstances and the facts, the expenses equal to 4% of the exempt income, earned by the assessee, was held to be reasonable disallowance, therefore, following the aforesaid decision of the Tribunal, the ld. Assessing Officer is directed to follow the aforesaid order, therefore, this ground is partly allowed. Addition of value of closing stock u/s 145A on account of cenvat credit in respect of goods other than capital goods - HELD THAT:- Considering assessee's own case [2015 (6) TMI 412 - ITAT MUMBAI] since the assessee has followed the guidance note issued by the ICAI, it would be in a position to demonstrate the above said fact before the AO, i.e., the assessee could establish that there was no change in the income under both the methods by furnishing necessary workings. Accordingly, we are of the view that the assessee should be given one more opportunity to demonstrate this fact. If the assessee fails to furnish the workings discussed above, in our view, the AO should consider the alternative contention of the assessee, viz., to adjust the opening stock with the correct amount that was actually adjusted in the closing stock of immediately preceding year. We have already noticed that the there was contradiction in the stand of DRP. If the service tax is considered to the tax incurred in bringing the goods to the present location and condition, then the same is required to be adjusted both in the opening stock and closing stock. Otherwise, the same should not be adjusted in both the items. Addition u/s 40(a)(ia) - short deduction of TDS - HELD THAT:- We find that this issue has been examined by the Mumbai Bench of the Tribunal [2011 (7) TMI 956 - ITAT MUMBAI], wherein, it was held that the provisions of section 40(a)(ia) can be invoked only in the event of non-deduction of tax at source but not lessor deduction of tax at source. Identical view was taken by Hon’ble Kolkata High Court in the case of S.K. Tekriwal [2012 (12) TMI 873 - CALCUTTA HIGH COURT] In the absence of any contrary decision brought to our notice, we allow this ground of the assessee. Granting credit for tax deducted at source as against claimed in the revised return and thereby short credit and charging interest u/s 234 - counsel contended that there is calculation mistake, therefore, the Assessing Officer may be directed to verify the claim of the assessee - HELD THAT:- DR had no objection to the request of the assessee. Thus, considering the totality of facts and the assertions from both sides, we direct the ld. Assessing Officer to examine the claim of the assessee and after providing due opportunity of being heard decide in accordance with law, consequently, both these grounds are allowed for statistical purposes.
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