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2015 (1) TMI 661

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..... being no infirmity in the above order of the Tribunal, the first question of law is answered in favour of the assessee. - Decided against revenue. Rule 46A - whether ITAT is right in law in not considering the fact that Rule 46A had been violated by upholding the action of the CIT Appeals? - Held that:- Insofar as the second question of law is concerned, since the procedure prescribed under the .....

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..... the additions made towards the cash credit for the assessment year 2001-2002? 2) Whether on the facts and in the circumstances of the case, the Income Tax Tribunal is right in law in not considering the fact that Rule 46A had been violated by upholding the action of the CIT Appeals? 3) Whether on the facts and in the circumstances of the case, the Income Tax Tribunal is right in law in delet .....

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..... Officer on 18.3.04 indicating the stand to the Department to the effect as to why trade credits should be treated as not genuine, as certain transactions were not proved beyond doubt. The assessee was given an opportunity to file objections as to why the credit shown should not be taken as not proved and the said amount should not be added as income. After hearing, the Assessing Officer came to .....

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..... refore, the addition was deleted. 4. Aggrieved by the said order of the CIT (Appeals), the Revenue filed appeal before the Tribunal. The Tribunal, taking note of the detailed order passed by the CIT (Appeals), so also the report of the Assessing Officer as requisitioned by the CIT (Appeals), held that there was no case for the department to reject the claim and the original assessment and that .....

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..... cond question of law is also answered in favour of the assessee and against the Revenue. 8. In view of the answer to the second question of law, which has been answered against the Revenue, the third question of law being repetitive and academic, is not being dealt with by this Court. 9. In the result, this Court is of the considered view that no interference is warranted with the order pass .....

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