In the result, both the appeals are partly allowed for statistical purposes
Bench: Shri Anadee Nath Misshra
40(a)(iib) of the Act is confirmed. Accordingly, Ground No. 1 & 2 are dismissed. 5.3. Ground No.3 pertains to the single issue of addition of Rs.53,328/- on account of disallowance u/s 43B of the Act and the same is adjudicated as under:- During the assessment proceedings, on perusal of the Profit & Loss Account, the AO noted that