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2019 (7) TMI 1392 - HC - Income TaxAddition u/s 69 - unexplained cash transactions between the Assessee and the Amrapali Group - HELD THAT:- ITAT had found that “the Assesee was never found to be in possession of any real money. The addition having been made only on the strength of some notings found in some file extracted from the computer of Sh. Rohtash, clearly establish that the provisions of section 69A of the Act do not apply.” It was further found that on the date of receipt of the impugned amount, the same was returned to the Amrapali Group by the M/s Bihari Ji Group. The determination by the ITAT is based on facts and there is nothing to indicate that it is perverse. Unexplained share application money u/s 68 - CIT (A) accepted the explanation offered by the Assessee and came to the conclusion that the Assessee had satisfactorily explained to the AO that was in the normal course of business and nothing adverse was found so as to conclude that the source of money used for payment to the Assessee was unaccounted. This again is a factual determination and does not give rise to any substantial question of law. Disallowance of “bogus‟ expenses - ITAT deleted the addition - HELD THAT:- ITAT noted that the said addition was made on the premise that the Assessee had claimed rent payment to M/s Trinity Shipping and Allied Services Pvt. Ltd. which according to the AO was not properly explained. The CIT (A), however, deleted the addition after finding that no rent or hire charges were in fact paid to either of the above entities. Before the ITAT, the Revenue was unable to show anything to the contrary. This too being a purely factual determination concurrently by the CIT (A) and the ITAT in favour of the Assessee - No substantial question of law.
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