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2016 (2) TMI 1076 - ITAT AHMEDABAD

2016 (2) TMI 1076 - ITAT AHMEDABAD - TMI - Addition of claim of rebate and discount - CIT-A deleted addition - Held that:- As gone through the relevant documentary evidences brought on record before us in the form of the paper book it shows that the assessee had filed complete details before the A.O, the rebate and discount in each bill has been accepted. We also find that the payments received by the assessee from its customers was net of rebate and discount since all these factual details have .....

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f the return of income which is 29.09.2009.The amendment brought to the provisions of section 40(a)(ia) by Finance Act, 2010 squarely apply. The Hon’ble Calcutta High Court in the case of Virgin Creations [2011 (11) TMI 348 - CALCUTTA HIGH COURT] has held that the amendment in section 40(a)(ia) is retrospective. The Hon’ble Jurisdictional High Court in the case of Omprakash Chaudhary (2015 (2) TMI 150 - GUJARAT HIGH COURT) has also taken a similar view. We decline to interfere with the findings .....

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₹ 13,95,966/- being claim of rebate and discount. While scrutinizing the return of income and verifying the Profit and Loss account, the A.O noticed that the assessee has debited ₹ 25,05,495/- towards Commission and Brokerage under the head Selling and Distribution expenses. Assessee was asked to furnish the details. The assessee furnished a list of parties to whom commission and dalali expenses were paid. It was explained that out of total amount of ₹ 25,05,496/-, ₹ 11,0 .....

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y and since this amount has not been debited in that account, the same cannot be allowed. The A.O disallowed ₹ 13,95,966/-. Assessee carried the matter before the ld. CIT(A) and once again claimed what has been stated before the A.O. Necessary details were filed. After considering the facts and the submissions and the relevant documentary evidences, the ld. CIT(A) was convinced with the claim and directed the A.O to delete the addition. 4. Aggrieved by this, the revenue is before us. The l .....

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scount in each bill has been accepted. We also find that the payments received by the assessee from its customers was net of rebate and discount since all these factual details have been examined and verified by the First Appellate Authority. We, therefore, decline to interfere with the findings of the ld. CIT(A), ground no. 1 is accordingly dismissed. 6. The second ground relates to the deletion of the addition of ₹ 1,63,14,603/- made u/s. 40(a)(ia) of the Act. 7. During the course of the .....

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