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2019 (11) TMI 1111 - AT - Income TaxAddition on account of fuel related losses - CIT-A deleted the addition - HELD THAT:- In the present case the A.O. while accepting the 50% of the loss as genuine and remaining 50% as non genuine, had not given any cogent reason or basis and even in the past such losses were accepted by the Department. In the present case the findings given by the CIT(A) that the coal loss varies from year to year and it was dependent on various factors such as weather condition, moisture content, travel forces etc. which were variable from time to time had not been rebutted. Moreover the transit of coal was not insurable and the assessee had claimed actual loss which was on account of difference in weight of coal recorded first in the SMB Register, thereafter in the stock register and the books of accounts. CIT(A) categorically stated in the impugned order that the AO verified from the record related to the loss suffered by Panipat Unit of assessee corporation while completing the assessment proceedings for the year under consideration and no adverse comment / discrepancy as regards to the record maintained by the Assessee for fuel loss was observed by the AO while passing the assessment order. This observation of the Ld. CIT(A) has not been rebutted by bringing any cogent material on record. We therefore by considering the totality of the facts as discussed hereinabove do not see any valid ground to interfere with the findings of the Ld. CIT(A) and do not see any merit in this ground of the Departmental appeal. Addition on account of renovation and modernization of projects - CIT-A deleted the addition -HELD THAT:- As noticed that a similar issue having identical facts has been adjudicated by this Bench of ITAT in assessee’s own case factual findings of the Ld. CIT(A) that the interest expenses claimed, pertained to loans taken for projects which had already been commissioned prior to the impugned year have not been controverted by the Revenue. Nor has the Revenue pointed out any any infirmity in the conclusion drawn by the Ld. C1T(A) , from the said factual position of the assessee, that interest expenses incurred subsequent to completion of renovation of projects was to be treated as Revenue in nature as per section 36(l)(iii) of the Act. The Revenue has also not controverted the finding of the C1T(A) that such claim has been allowed in the past too u / s 36(l)(iii) of the Act. We, therefore, see no reason to interfere in the order of the Ld. C1T(A) - Decided against revenue
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