9911796707
TMI Blog2016 (8) TMI 407X X X X Extracts X X X X X X X X Extracts X X X X ..... sh withdrawn from the bank accounts. We, therefore, are of the considered view that ends of justice would meet if the case of the assessee is restored back to the file of the AO to decide afresh after allowing the opportunity of being heard to the assessee, and no prejudice would be caused to the revenue thereby. Accordingly, we set aside the order of ld CIT(A) and restore the case back to the file of the AO. The assessee is also directed to produce relevant supporting documents before the AO and co-operate with the AO for speedy disposal of the issue. - Decided in favour of assessee for statistical purposes. - I.T.A. No.2704/Mum/2014 - - - Dated:- 22-6-2016 - SHRI SHAILENDRA KUMAR YADAV, JM AND SHRI RAJESH KUMAR, AM For The Assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2/- by making various additions amounting to ₹ 21,73,408/- including the cash credit deposits of ₹ 18,70,110/-. Aggrieved by the order of AO the assessee filed an appeal before the ld.CIT(A), who in turn confirmed the action of the AO. Hence the assessee is in second appeal before us. 4. The AO on the basis of Annual Information Return (AIR) filed by ICICI Bank Ltd, Marol Maroshi Road, Mumbai found that the assessee has deposited cash amounting to ₹ 16,68,300/- and credit of ₹ 1,98,820/- in the saving bank account which was not explained by the assessee despite having specifically been asked vide notice dated 18.11.2011. The AO further observed that the said bank account maintained with the ICICI Bank was not disc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 20,98,720/- was received towards the job work charges. Similarly, he had also filed names of 5 individuals with their address to show that ₹ 14.68.340/- was in turn paid towards job work charges. He was specifically directed to clarify as to how cash/cheque to the tune of ₹ 20,98,720/- was received from various places such as Bangalore, Kanpur, Hyderabad towards job work contract connected to cutting the garments into various sizes as per the requirement of the party. The AR was directed to file the supporting evidences in respect of the cash received for the job work carried out and also the cash paid to the job works given. He expressed his inabllity to furnish any details. In the absence of any confirmation from the parti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... were purely out of business receipts of the assessee and likewise the withdrawals were for the purposes of incurring the expenditure on the payment of labour charges and other expenses. During the year, total receipts were was to the tune of ₹ 20,98,720/- which were deposited into two bank account of the assessee maintained with the ICICI Bank and Punjab and Maharashtra Co-operative Bank Limited on the various dates during the year. The total job work charges paid to the outside labour were ₹ 14,68,340/- and thus ₹ 6,30,381/-- pertaining to the assessee s own industrial unit for which the assessee was having machinery and regular employees on the pay roll of the assessee. Finally the ld AR submitted that the case of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
