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2023 (9) TMI 1118 - AT - Income TaxCIT(A) justification in accepting addition evidences u/r 46A - HELD THAT:- CIT(A) afforded opportunity to the Ld. AO and asked for remand report from him. The Ld. AO in his remand report only objected to admittance of additional evidence by the CIT(A). If he wanted, he could have examined the contents of the additional evidence furnished by the assessee during the course of remand proceedings but the Ld. AO did not do anything of the sort. On these facts, we are of the view that in the interest of justice and backed by the decision of Hon’ble Delhi High Court in Virgin Securities & Credits (P) Ltd. [2011 (2) TMI 207 - DELHI HIGH COURT] Ld. CIT(A) was perfectly justified in admitting the additional evidence. Disallowance of 40% of total direct/indirect expenses and disallowance of claim u/s 80C - HELD THAT:- On the basis of evidence produced by the assessee and admittance thereof under Rule 46A of the Rules, the Ld. CIT(A) has deleted the above disallowances. Nothing has been brought on record by the Revenue to enable us to take a view different from that of the Ld. CIT(A). Accordingly, we reject the grounds related to deletion of these disallowances by the Ld. CIT(A) in both the AY(s). Addition on account of difference in opening stock of the current year and closing stock of the preceding year - CIT(A) has accepted the explanation offered by the assessee before him and deleted the addition. The explanation furnished by the assessee before the Ld. CIT(A) could not be faulted before us by the Revenue. We, therefore, reject this ground of the Revenue raised in AY 2012-13. Revenue appeal dismissed.
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