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2015 (2) TMI 324 - AT - Income TaxAdvances from transport department - Accural of income - Assessee has shown as Current Liabilities - AO treated as income under P&L Account - CIT(A) deleted the addition - assessee contended that the amount was held in fiduciary capacity and was in the nature of liability as no services against this advance were rendered in the year under consideration. - Held that:- Revenue could not bring any material before us to show that the expenses of more than ₹ 14,83,508/- was incurred by the assessee during the year under consideration in respect of the project under consideration. The AO has simply stated that the expenses of the project must have been debited in the Profit & Loss account, but failed to point out any expenses, which were related to the project in question, which was debited in the profit & loss account. In the absence of any such findings, the assessment was made merely on the basis of suspicion or guess-work without any concrete facts brought on record and such assessment is unsustainable. We, therefore, do not find any good reason to interfere with the order of the CIT(A), which is confirmed, and the ground of the appeal of the Revenue is dismissed. - Decided against revenue. Disallowance of deduction under section 80IA - profit derived from internet telephony service business - AO did not accept the claim for want of audit report in prescribed Form No.10CCB - Held that:- Hon’ble Madras High Court in the case of CIT Vs.Medicaps Ltd., (2010 (1) TMI 261 - MADHYA PRADESH HIGH COURT) held that furnishing of audit-report for claim of deduction under section 80IA of the Act was not mandatory and the same can be filed even at the appellate stage. Still further, the Hon’ble Apex Court in the case of Aurangabad Electricals Ltd vs Commissioner Of Central Excise & Customs, (2010 (11) TMI 8 - Supreme Court of India) observed that keeping in view the well settled principles laid down by this Court that technicalities should not defeat rendering of complete justice to a litigant, and remanded the matter to the Tribunal to verify and consider whether the certificate which is already placed on record by the appellant, would assist them in support of their defence. In view of the above decisions, as the audit report in Form No.10CCB was filed before the CIT(A), in our considered view, it shall be just and fair and in the interest of justice to restore this issue back to the file of the AO to readjudicte the issue after taking into consideration the audit report in Form No.10CCB filed belatedly by the assessee, and after examining all the aspects of the matter, in accordance with law. - Decided in favour of assessee for statistical purposes.
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