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TMI Blog2013 (10) TMI 282X X X X Extracts X X X X X X X X Extracts X X X X ..... yments made after banking hours, the payments have been made at Mill counter as directed by the Corporation to enable them to meet their daily expenses and excise duty payments. The certificate was also filed before the Assessing Officer - Deleted of the addition of the amount of Rs.13,43,790/- for the assessment year 1990-91 – Decided against the Revenue. - Income Tax Appeal No. - 291 of 2000 - - - Dated:- 22-2-2012 - Hon'ble R.K. Agrawal And Hon'ble B. Amit Sthalekar,JJ. For the Petitioner : A. N. Mahajan, A. Kumar, B. J. Agarwal, D. Awasthi, G. Krishna, R. K. Upadhyay,S. Chopra For the Respondent : R. R. Agawal ORDER (Delivered by Hon'ble B.Amit Sthalekar,J.) This appeal under Section 260 -A of the Income Tax Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sioner of Income Tax (A) against the addition of Rs.13,43,790/- under Section 40 A (3) of the Income Tax Act. The Commissioner of Income Tax (A) in his order dated 21.4.1993 recorded the submission made on behalf of the assessee, which are as follows:- "The assessee has purchased sugar from U.P. State Sugar Corporation, Bareilly in the ordinary course of business. The nature of business of assessee is such complex that there is fast turnover of goods. Assessee has to purchase sugar for urgent supplies to the purchasers. Out of the total payments of Rs.13,43,790/- made to U.P. State Sugar Corporation, the assessee has made payment of Rs.10,12,740/- in the cash credit account No.649 of Corporation with PNB, Civil Lines, Bareilly and Rs.10.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee, the CIT(A) held that the Assessing Officer had not appreciated the facts and the explanation placed before him by the assessee. It was also noted that the Assessing Officer had nowhere in the entire body of the order doubted the genuineness of the payments and in fact he had verified the entire payments from the copies of accounts issued by the U.P. State Sugar Corporation Ltd. and the certificate issued by the said concern. The CIT (A) as also referred to the certificate issued by the U.P. State Sugar Corporation Ltd. filed by the assessee in support of his contention that the cash payments had to be made by the assessee as it was so instructed by the U.P. State Sugar Corporation Ltd. and cash was deposited in the factory beyond bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the respondent and perused the records. From the order of the Assessing Officer dated 26.3.1993, it is amply clear that the assessee had led evidence in detail to explain the payments made in cash in excess of Rs.10,000/- beyond banking ours. From the record, it is seen that the payments were made in the bank account of the U. P. State Sugar Corporation Ltd., Bareilly on the instructions of the Corporation directly in the bank or in case of payments made after banking hours, the payments have been made at Mill counter as directed by the Corporation to enable them to meet their daily expenses and excise duty payments. The certificate as referred to herein above was also filed before the Assessing Officer. These facts have also been no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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