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2021 (10) TMI 1003 - ITAT DELHIUnexplained trade receivable - CIT-A deleted the addition for want of proper enquiry by the AO - HELD THAT:- When no evidence has been given by the assessee company during the assessment proceedings and no remand report has been called, and accepting the contentions of the assessee as a gospel truth without conducting any enquiry is not sustainable in the eyes of law. Findings returned by the ld. CIT(A) are cryptic and without any reasons, hence set aside. So, this issue is remitted back to the ld. CIT(A) to decide afresh after examining all the evidences brought on record by the assessee during the first appellate proceedings by passing a reasoned order. Consequently, grounds no. 1 & 2 are determined in favour of the Revenue for statistical purposes. Disallowance of depreciation - AO disallowed the depreciation on the ground that assets were not put to use during the year - HELD THAT:- We are of the considered view that when the financials of the assessee company are audited one u/s.44AB of the Act which has not been disputed by the AO and date of purchase of the assets has been brought on record which have not been purchased during the year under assessment as is evident from the table extracted in preceding para no. 10, we find no illegality or infirmity in the findings returned by the dl. CIT(A). However, deletion of addition is subject to the verification by the AO as to the date of purchase of the assets as claimed by the assessee. - Decided against Revenue.
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