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TMI Blog2021 (4) TMI 845X X X X Extracts X X X X X X X X Extracts X X X X ..... IR PRASAD, J.M. 1. This appeal filed by the Assessee is directed against the order of the Commissioner of Income Tax ('hereinafter called CIT(A)') order no. CAB/4-20/2016-17 order dated 24/06/2017 arising out of assessment order dated 23/03/2016. Assessee has taken following grounds of appeal: 1. The Ld. CIT (A) has grossly erred in law and on facts in dismissing the appeal. He ought to have al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s income from manufacturing of transformers tanks. 3. During the course of assessment proceedings, while going through submission made by the assesse, it came to notice, the ld. A.O. that assesse has made various payments to a person in a day more than 20,000/- otherwise than by an account payee cheque drawn on a bank or account payee bank draft etc. S No. Date of payment To -whom paid Amo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as violated the provisions of section 40A(3) by making these payments otherwise than account payee cheque drawn on a bank or account payee bank draft, exceeds twenty thousand rupees to a person in a day and made addition of Rs. 11,55,540/-. 5. Against the said order, assesse preferred first statutory appeal before the Ld. CIT(A) who confirmed the order of the Ld. A.O. holding that appellant could ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... days of continuous four days and those payments were made for the business expediencies and assesse was compel to make cash payment under peculiar circumstances as principal company to which asessee was a distributor, and recipient of the cash payment insisted assesse to make payment in cash as realization takes a longer time. And payments were effected for outstanding amount as requested keeping ..... X X X X Extracts X X X X X X X X Extracts X X X X
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