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2018 (7) TMI 1168 - AT - Income TaxDisallowance made u/s 40A(3) - purchases of country spirit in cash - revised procedure prescribed by the Excise Department, for lifting country spirit - Held that:- There could be no disallowance u/s 40A(3) of the Act in the facts and circumstances of the case and accordingly we direct the ld AO to delete the same. We also find that this issue is recently decided in favour of the assessee by the Hon’ble Jurisdictional High Court in the case of CIT vs Sri Ritwik Kumar Bera [2018 (7) TMI 1093 - CALCUTTA HIGH COURT]. Addition towards difference in purchases and profit added thereon - Held that:- AO based on the information obtained u/s 133(6) of the Act from M/s Asansol Bottling & Packaging Pvt Ltd wherein the total sales made to assessee was reflected at a higher figure by ₹ 79,104/- . No explanation was offered by the assessee before the AO. Hence the addition made towards unexplained purchases and consequential profit thereon was made. CIT-A had upheld the action on the ground that no arguments were advanced by the assessee before the ld CIT-A.
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