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TMI Blog2022 (7) TMI 1270X X X X Extracts X X X X X X X X Extracts X X X X ..... the view, that one more opportunity can be granted to the assessee to go before the tribunal. In the result, the appeal filed by the assessee is allowed and the order passed by the tribunal is set aside and the matter is remanded to the tribunal for fresh consideration. The assessee is directed to appear before the tribunal on the date fixed without seeking for unnecessary adjournment and, they will also be entitled to file paper book containing documents which were placed before the CIT(A). After affording an opportunity to the assessee, the learned tribunal shall consider and decide the matter afresh on merits and in accordance with law. Consequently, the substantial questions of law are left open. - ITAT/111/2022 IA NO:GA/1/2022 , G ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation or satisfaction to the same does not arise ? ii) Whether verification, at any point of time much after the transactions made for Assessment Year 2007-08, so as to find out the existence of sundry creditors, can have any effect to decide the genuineness of the transactions ? iii) Whether it is not incumbent on the part of the concerned authority to grant a copy of the report of verification (if any) conducted by the Assessing Officer to the petitioner, to which the petitioner is prejudiced ? iv) Whether the Learned Tribunal was justified in blindly supporting the order passed by the CIT(Appeals) wherein the order of addition made by the AO was upheld even though finding that the sundry creditors were paid to the exten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation offered and, accordingly treated the balance as unexplained and taxed the same. However, in respect of two of the cases namely, that of Neha Enterprises and Purnima Trading Company relief was granted to the assessee. The next issue which was taken up was with regard to cash payment exceeding Rs.20,000/-. Once again, the explanation offered by the assessee was found to be not convincing and a sum of Rs.7,61,511/- being 20% of such payment of Rs.38,07,557/- was disallowed under Section 40A(3) of the Act. The next issue which was taken up by the assessing officer was with regard to the employees contribution to the Provident Fund and the assessing officer found that the amount was not deposited within the statutory due date and he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rder passed by the CIT(A). However, the explanation offered by the assessee which has been recorded by the CIT(A) in respect of sundry creditors was not noted and since the assessee was not represented, they were in a disadvantageous position and facts could be placed before the tribunal which were already on record. Further, the learned Advocate appearing for the appellant would submit that the appellant is a works contractor and in the course of their activities, they are compelled to make cash payment and those cash payments have been less than Rs.20,000/-. To substantiate the genuineness of the same, ledgers were produced before the CIT(A) and, if one more opportunity is granted to the assessee, they will be able to substantiate befo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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