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2021 (1) TMI 906 - AT - Income TaxAddition on account of own money received on the basis of information received from the Central Excise Department - addition duty determined by Central Excise Department has been confirmed by the CESTAT, New Delhi - CIT-A deleted the addition - HELD THAT:- CIT(A) has duly considered the directions of the Coordinate Bench in the first round, the findings of the CESTAT as limited to a specified period and not pertaining to period under consideration, confirmation from Central Excise department that there is no material or evidence for undervaluation for period under consideration and the fact that the AO has merely relied on past years findings and in absence of any material or evidence and only on presumptions, conjectures and surmises has made the additions. The Revenue has failed to controvert the said findings of the ld CIT(A) before us. We therefore affirm the findings of the ld CIT(A) wherein he has rightly deleted the addition Interest received on margin money at lower rate than it had to pay the borrowers - HELD THAT:- In the first round, the Tribunal has set-aside the matter to the file of the AO to examine the contention of the assessee that there is no fresh ICD placed during the period under consideration and where the same is found to be correct, allow the relief to the assessee following the Tribunal’s order for assessment year 1996-97 wherein similar addition was deleted. During the set-aside proceedings, we find that the assessee has submitted the details which show that there is no increase in Unsecured Loans and Inter-Corporate Deposits during the period under consideration. Therefore, following the earlier decision, the matter is decided in favour of the assessee . We find that the Tribunal decision for A.Y 1996-97 has since been confirmed by the Hon’ble Rajasthan[2017 (11) TMI 1673 - RAJASTHAN HIGH COURT]- In the result, the appeal of the Revenue is dismissed.
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