2015 (11) TMI 1261

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....Department by Shri Amit Nigam, Sr. DR ORDER PER A. K. GARODIA, A.M. This appeal is filed by the revenue and the C.O. is filed by the assessee and these are directed against the order of Learned CIT (A) - II Kanpur Dated 24.02.2014 for A.Y. 2008 - 09. 2. The revenue has raised Five grounds but the effective grievances are two. First grievance is about relief allowed by learned CIT (A) b....

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....he orders of the lower authorities and the judgments cited by the learned AR of the assessee. We find that the decision of learned CIT (A) in Para 8 page 16 of his order is this that as per the exception in Explanation to Section 73, if more than 50% of the Gross Total Income of the assessee consists of income chargeable under Four heads excluding income from business, then the provisions of Expla....

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....of Rs. 2 Lacs under each of these two heads are not verifiable because Rs. 5 Lacs and Rs. 12 lacs are incurred in cash, the estimate of the learned CIT (A) is this that disallowance of Rs. 50,000/- under each head is reasonable. In our considered opinion, in the facts of the present case, the estimation of the AO is excessive and that of CIT (A) is reasonable and hence, on this issue also, we find....