2018 (10) TMI 808

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....J. (ORAL): Revenue in this appeal under Section 260A of the Income Tax Act, 1961 (Act, for short), which relates to Assessment Year 2003-2004 impugns the order dated 23rd March, 2018 passed by the Income Tax Appellate Tribunal (Tribunal, for short) in the case of Rambagh Palace Hotels Private Limited (respondent-assessee).  2. The appeal arises from cross appeals ITA Nos. 6024/Del/2014 and....

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....their statements were recorded on oath.  Documents were also produced by the said vendors. The Assessing Officer held that the respondent-assessee had been able to establish genuineness of the expenditure from the said four vendors amounting to Rs. 2,48,08,464/-. However, the respondent-assessee had not been able to produce confirmations or produce other vendors to whom payments of Rs. 2,76,0....

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....ces were existing and genuine parties. At the same time the Commissioner of Income Tax (Appeals) held that there could still be some doubt about the existence of the said contractors and hence 5% disallowance was justified.  5. Thereupon, cross appeals as noticed above were preferred by the Revenue and the respondent-assessee to the Tribunal.  6. The Tribunal in the impugned order has ....