In the result, appeals filed by the Revenue are partly allowed and the cross objections filed by the assessee are partly allowed
Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble
2)(iii), the disallowance required to be made is 0.5% of the investments which the Assessing Officer rightly disallowed. Therefore, we set aside the order of the ld.CIT(A) and uphold the addition made by the Assessing Officer. Accordingly, appeal of the Revenue on this ground is allowed. C.O.No.13/VIZ/2016 A.Y.2007-08 29 The assessee filed cross objections or the A.Y.2007-08