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2015 (10) TMI 1497 - ITAT MUMBAI

2015 (10) TMI 1497 - ITAT MUMBAI - TMI - Addition of various expenses like cargo, brokerage and commission, business promotion, insurance and legal expenses, etc. - CIT(A) deleted the addition in part - Held that:- Both the A.O. and the Ld. CIT(A) have not stated that the expenses are not genuine and there is no allegation as to any cash receipts. All receipts are through proper banking channels. The accounts are audited the method of accounting certified as proper as per Accounting Standard. Th .....

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re business expenses which would be necessary in the course of the business and therefore revenue in nature and is allowable - Decided in favour of assessee. - ITA No. 4931/Mum./2012 - Dated:- 7-5-2015 - I P Bansal, JM & Rajendra, AM,JJ. For the Petitioner : Shri Premanand J For the Respondent : Shri Hari S Raheja ORDER Per I P Bansal,JM. This appeal is filed by the Revenue and is directed against the order dated 7th May 2012, passed by the Commissioner (Appeals)-9, Mumbai, for the assessmen .....

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as been granted. Reference was made to the order of the Tribunal which is dated 15th July 2011, passed in ITA no.16/Mum./2009 and ITA no.952/Mum./2009, in respect of the assessment year 2005-06 and a copy of which is filed at Page-1 to 12 of the paper book. The same order was followed in respect of the assessment year 2007-09 vide order dated 22nd February 2012 in ITA no.5765/Mum./2010 and ITA no.6202/Mum./2010 and copy of this order is placed at Page-13 and 14 of the paper book. It was further .....

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uary 2014, passed under section 143(3) of the Act. A copy of the order was placed on our record and was also given to the learned Departmental Representative. 4. The learned Departmental Representative did not controvert to the aforementioned position explained by the learned Counsel. 5. In this view of the situation, after hearing both the parties, we find that this issue is covered in favour of the assessee by the aforementioned decision of the Tribunal which was approved by the Hon'ble Bo .....

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ears in the past the department has accepted the claim of the assessee. We also find that the expenses of Concord are fixed as per the manifest signed between the two parties and therefore the assessee s share of expenses is also be to determined by the terms of the manifest from which it clearly shows that other expenses are borne by each party independently. We also find that all supporting vouchers have been produced and copies have been filed by the A.O. and no income has been estimated thou .....

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