2018 (12) TMI 600

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....rder passed by the CIT(A)-1, Pune on 06-10-2016 in relation to the assessment year 2012-13. 2. The only issue raised in this appeal is against the confirmation of disallowance of Rs. 46,28,457/- made by the Assessing Officer (AO) u/s. 40(a)(i) of the Income-tax Act, 1961 (hereinafter also called as 'the Act'). Appellant by Shri Kishor Phadke Respondent by Shri Rajesh Gawali 3. Briefly stated, th....

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..... 4. I have heard both the sides and gone through the relevant material on record. It is observed that similar disallowance was made by the authorities below in relation to the two preceding assessment years, namely, 2010-11 and 2011-12. Vide its order dated 24-10-2018, the Tribunal in ITA No. 828/PUN/2016 and ITA No.1204/PUN/2016 has deleted the disallowance by holding that Explanation 5 has bee....