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TMI Blog2012 (8) TMI 91X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of accommodation business - remit the matter back to AO to examine both the separate trading accounts furnished by the assessee so as to find out the actual income earned in real trading vis-a-vis accommodation business - in favor of assessee for statistical purposes. - ITA No. 382/Ind/2010 - - - Dated:- 20-6-2012 - SHRI JOGINDER SINGH, AND SHRI R.C. SHARMA, JJ Appellant by Shri K.C. Agrawal Respondent by Shri Keshav Saxena O R D E R PER JOGINDER SINGH, judicial member The assessee is aggrieved by the impugned order dated 3.2.2010, passed by ld. first appellate authority, Indore, on the following grounds of appeal: On the facts and in the circumstances of the case, the ld. CIT(A) erred in 1. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 003. Questionnaire and notices u/s 142(1) were issued from time to time. The proceedings were attended by Shri S.N. Agrawal, CA and later on Shri Kailash Agrawal ARs. Statements of witnesses were also recorded. Books of accounts produced were test checked. Statement of Shri Radheshyam Agrawal was recorded on oath u/s 131 during the course of assessment proceedings. 4. During the course of scrutiny assessment, the Assessing Officer found that in the P L account, the ass has shown total purchases of Rs. 4,20,96,413/-. The trade creditors are shown to the tune ofRs. 1,35,23,583/-. Following queries were raised by the Assessing Officer on various dates regarding purchases : A. List of concerns from whom purchases exceeding Rs. 50,000/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... side of the photocopies of the self cheques of M/s Ganesh Traders where the signatures of Radheshyam Agrawal appeared. 5. Being not satisfied with the assessee s explanation, the Assessing Officer made the addition on account of undisclosed investment in purchases amounting to Rs. 1,39,78,965/-. The Assessing Officer also made disallowance out of purchase expenses amounting to Rs.2,01,010/-. By the impugned order, the learned CIT(A) confirmed the action of the Assessing Officer and the assessee is in further appeal before us. 6. With regard to the business undertaken by the assessee, it was canvassed by the assessee, during the course of assessment, that in addition to actual trading of grains, he was also issuing accommodation bill a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer to accept one set of transaction of purchase resulting into withdrawal of cash, and to ignore another set of transaction of sale resulting into again passing of such cash to the seller. These transactions were two sides of same coin, which require examination on the part of the Assessing Officer. All these entries require examination on the part of the Assessing Officer to find out the actual income earned by the assessee in respect of the real transaction of purchase and sale vis-a-vis the accommodation transaction entered by the assessee by issuing bogus sale bills. In the interest of justice and fair play, we restore this appeal to the file of the Assessing Officer to examine both the accounts and decide the same afresh. Needles ..... X X X X Extracts X X X X X X X X Extracts X X X X
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