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TMI Blog2018 (12) TMI 1251X X X X Extracts X X X X X X X X Extracts X X X X ..... (3) of the Act. Therefore, in the interest of administration of justice, remand the issue to the file of AO for verification of the same and passing a speaking order on this issue. Needless to mention, the AO shall give reasonable opportunity of being heard to the assessee in accordance with the set principles of natural justice. Accordingly, the grounds raised by the assessee are allowed for stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... books of accounts & confirmed the above addition of ₹ 5,72,431/- inspite of Appellant's arguing taht the entire cash payments of ₹ 28,62,154/- are not at all made in contravention of sec.40A(3) of I.T. Act. 4. The appellant being small trader is unable to bear such wrong hardship & prays for deletion of the said ₹ 5,72,431/- to her income. 5. The appellant craves to add, alt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing 20% of ₹ 28,62,154/-) as the same are in contravention to provisions of section 40A(3) of the Act. At the end of the assessment proceedings, the AO, considering the GP @25%, determined the income of the assessee at ₹ 15,39,580/-. 4. In the First Appellate proceedings, assessee made submissions before the CIT(A). CIT(A) called for a remand report from the AO. After considering the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00/- specified in the provisions of section 40A(3) of the Act. He therefore, requested the Bench to remand the issue to the file of AO for verification of the same and passing a speaking on this issue. 7. On the other hand, Ld. DR for the Revenue relied heavily on the orders of AO/CIT(A). 8. On hearing both the sides and on perusing the orders of AO and the CIT(A), I find the AO/CIT(A) have not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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