2018 (1) TMI 82

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....t : Shri Vikas Suryawanshi, Addl. CIT (DR) ORDER This appeal is preferred by the assessee against the order of the CIT(Appeals) inter alia on the following grounds:- "General Ground 1. The order passed by the learned CIT(A) is bad in law and liable to be quashed. Ground on disallowance of write off of rental deposit 2. The learned CIT(A) has erred in confi....

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....ve, the aforesaid grounds and the relief prayed for thereunder be allowed. The appellant submits that each of the above grounds/ subgrounds are independent and without prejudice to one another. The appellant craves leave to add, alter, vary, omit, substitute or amend the above grounds of appeal, at any time before or at, the time of hearing, of the appeal, so as to enable the Inc....

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.... hand, has placed reliance upon the order of the CIT(Appeals). 5. Having carefully examined the orders of lower authorities in the light of rival submissions, I find that the assessee has taken premise on rent for which he has given interest-free refundable security deposit of Rs. 11,70,000 to the landlord. When the assessee could not continue with the possession, he claimed the entire amount b....

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....s. 36(2) of the Act. Therefore, I find no merit in the claim of assessee and accordingly I confirm the order of the CIT(Appeals). However, I direct the AO to allow the claim of assessee only in that year for which the assessee finally loses the hope of its recovery of the said amount. 6. Apropos ground No.2, the assessee has claimed the deduction in respect of cash theft of Rs. 2,38,858, but in....