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TMI Blog2021 (6) TMI 451X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Officer is directed to verify the same denovo. Needless to mention that the assessee should be given a fair opportunity of hearing. Assessee's appeal is treated as allowed for statistical purposes. - ITA No. 152/Hyd/2018 - - - Dated:- 7-6-2021 - P. Madhavi Devi, Member (J) And A. Mohan Alankamony, Member (A) For the Appellant : Nalin Shah For the Respondents : Rohit Mujumdar, DR ORDER Per Smt P. Madhavi Devi, JM This is assessee's appeal for the A.Y. 2014-15 against the order of the CIT (A)-4, Hyderabad, dated 22.12.2017. 2. Brief facts of the case are that the assessee firm, engaged in the business of wholesale and retail business of mobiles, filed its return of income for the A.Y. 2014-15 on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g officer u/s. 40A(3). 4. The learned CIT (A) ought to have considered the genuineness of transactions between both parties; payer and payee. 5. The learned Commissioner of Income Tax (Appeals) ought to have considered the submissions made by the assessee. 6. Any other ground that may be urged at the time of hearing. 3. The learned Counsel for the assessee, Sri Nalin Shah, submitted that the assessee was a member of Walmart India (P) Ltd., which is a cash and carry wholesale store, and does not sell directly to end users (i.e., business to customers). It is also submitted that Walmart India (P) Ltd. delivers the goods only after realization of the cheques or DDs which usually take 3 to 4 working days. Since the mobile ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17 ITR 431)(All.). ii) The Hon'ble Madhya Pradesh High Court (Indore Bench) in the case of CIT vs. Satyam Ginning, Pressing Oil Mills reported in 130 CTR 0580. iii) The Hon'ble Calcutta High Court in the case of Goenka Agencies vs. CIT reported in 184 CTR 0104 : (2003) 263 ITR 145 (Cal.). 4. The learned Counsel for the assessee also drew our attention to the ledger a/c of the Walmart India (P) Ltd. and the invoices of Walmart India to demonstrate that the purchases were made on Saturdays after banking hours. 5. The learned DR, on the other hand, supported the orders of the authorities below and submitted that the disallowance made by the Assessing Officer should be confirmed. 6. Having regard to the rival conte ..... X X X X Extracts X X X X X X X X Extracts X X X X
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