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2015 (9) TMI 15 - AT - Income TaxRejection of books of accounts - trading addition - CIT(A) deleted addition - Held that:- It emerges from the record that the AO failed to conduct any further enquiry as to rejection of books of account of the assessee. The rejection of books of account by the AO does not appear to be justifiable and the G. P. addition made is also not sustainable in view of the fact that the assessee has shown better gross profit and net profit rate on increased turnover. Thus we find no reason to interfere in the order of the ld. CIT(A) which is sustained - Decided in favour of assessee. Credit of TDS deducted on the renal receipts - CIT(A) allowed claim - Held that:- We find from the records that the property had been transferred to M/s. A. G. & Company and the rent received during the transit period was transferred to M/s. A. G. & Company and the taxes were paid. The decision of ITAT Mumbai Bench as relied on by the ld. AR of the assessee in his written submission in the case Arvind Murjani Brands (P) Ltd. vs. ITO (2012 (5) TMI 138 - ITAT MUMBAI) is fully applicable in the case of the assessee. Once the actual recipient of the income i.e. M/s. A. G. & Company has paid taxes on the rental income then it cannot be taxed twice by disallowing the TDS in the hands of the assessee company. Thus we find no reason to interfere in the order of the ld. CIT(A) which is sustained. - Decided in favour of assessee. Disallowance u/s 40(a)(ia) on advertisement expenses - short deduction of TDS - assessee submitted that the assessee made payment on account of advertisement expense incurring during the year which were paid during the year itself, therefore, it is not payable at the end of the year - Held that:- It is observed that judgement in the case of M/s. Merilyn Shipping & Transport vs. ACIT (2012 (4) TMI 290 - ITAT VISAKHAPATNAM ) has been upheld by Hon'ble Allahabad High Court in the case of CIT vs. Vector Shipping Services (P) Ltd. [2013 (7) TMI 622 - ALLAHABAD HIGH COURT]. Revenue’s SLP against the same has also been dismissed by the Hon'ble Supreme Court. Thus, the issue stands settled in favour of the assessee
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