2016 (9) TMI 1305

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.... of Rs. 70,53,395/- made u/s 40(a)(ia) of the IT Act thereby overriding Board's Circular No. 1/2011 [F.No. 142/1/2011-SO(TPL)], dated 6-4-2011, wherein it is clearly stated that the said amendment to section 40(a)(ia) of the IT Act would be applicable to assessment year 10-11 and subsequent years." 3. Brief facts as can be seen from the orders of the Revenue authorities are that the assessee has filed its return of income on 31.10.2005 declaring total income at Rs. 1,38,360/-. This return was selected for scrutiny assessment and notice under section 143(2) was issued and served upon the assessee. During the course of assessment proceedings, the AO noticed that assessee has debited a sum of Rs. 75,49,425/- to the P&L account as cartin....

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.... the decision of the ITAT, Ahmedabad Bench in the case of Rameschandra Bhrambhatt which was followed by the ld.CIT(A). A copy of the order of the ITAT in the case of Rameschandra Bhrabhatt (supra) is placed on record. 6. We have considered submissions of the parties and also material available on record. We do not find any illegality in the order of the ld.CIT(A), inasmuch as the ld.CIT(A) while passing the impugned order has taken into consideration order of the ITAT, Ahmedabad Bench in the case of Rameschandra Brahmbhatt (supra), wherein in an identical situation, the Tribunal allowed similar claim of the assessee towards carting expenses. The relevant part of the Tribunal reads as under: "4. Now the appellant is before us. Th....