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2022 (12) TMI 882 - AT - Income TaxLong term capital gain - cost price for cost inflation index - HELD THAT:- As per the provision of section 45 any profits or gain arising from the transfer of capital asset effected in the previous year shall be deemed to the income of the previous year in which transfer took place. Since in the case of the appellant transfer took place during the year therefore AO has correctly taxed the capital gain for the year under consideration and addition made by the AO is hereby confirmed. Disallowance of production expenses - CIT (A) confirmed the addition by noting that it is an admitted fact that assessee was unable to produce any evidence in respect of expenses - HELD THAT:- Upon careful consideration and going through the assessment order ld. CIT (A)’s order, we find that the impugned additions and disallowances are made on cogent footings. Nothing has been brought to our notice to controvert the finding of AO and CIT (A). Hence, we do not find any infirmity in the order of ld. CIT (A) and we affirm the same. As we find that the impugned additions and disallowances are made on cogent footings. Nothing has been brought to our notice to controvert the finding of AO and ld. CIT (A). Hence, we do not find any infirmity in the order of ld. CIT (A) and we affirm the same. Appeal filed by the assessee stands dismissed.
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