9911796707
TMI Blog2024 (7) TMI 880X X X X Extracts X X X X X X X X Extracts X X X X ..... transactions. Thus, we are of the considered view that the issue raised by the department deserves to be restore to the file of AO to examine the same and decide the issue afresh in terms of facts and the provisions of law. It is also directed that the assessee shall be provided with reasonable opportunity of being heard and to produce all the significant evidence and contentions which were raised before us. Resultantly, in the interest of principle of natural justice, we set aside the order of Ld CIT(A) and restore the matter to the files of AO. Accordingly, the issues raised filed by the department is partly allowed for statistical purposes. - SHRI RAVISH SOOD, JM And SHRI ARUN KHODPIA, AM For the Assessee : Shri Ravi Agrawal, CA For th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtment in the present case is barred by limitation by 17 days. Ld. Sr. DR representing the department has submitted in this respect that the order under section 250 in the case of the assessee was passed by NFAC on 25.11.2021, but the same was received in the office of Ld. PCIT, Raipur on 02.06.2022. Accordingly, limitation to file appeal before ITAT subsisted up to 31.07.2022. It is also the submission that due to voluminous order received form CIT(A) NFAC through online portal, the appeal before the ITAT could not be filed in time, Ld. Sr. DR has furnished before us a report from the concerned AO explaining the reasons for delay the same is placed on records. Considering the request from the department and the facts and circumstances the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed with the observations that the amounts received in cash as explained by the assessee are in violation of provisions of section 269ST Act. Further the assessee has only furnished ledger A/c of the various parties who paid the cash to assessee firm, which could not be taken at face value without corroborative evidence such as purchase invoices, booking invoices, address and contact details of the parties etc. Accordingly, the submissions made by the assessee are treated as not satisfactory. According to the AO, the onus of proving the source of cash receipt, which was on the assessee could not be satisfied, therefore, the cash deposits made by the assessee in the month of November 2016 reduced by opening balance and cash sales made till 08 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntion of the appellant before the Ld. CIT(A) s that provisions of section 269ST are not attracted as the appellant has not received any loans, the receipts in the appellants case are being the sales receipt. Ld. CIT(A) has considered the plea of appellant as gospel truth without appreciating the facts of the case neither going through the documents such as the sales invoices, confirmations from the parties concerned or by conducting any enquiries with such parties. Findings of the Ld. CIT(A) were only based on the facts submitted by the assessee before him from the explanation by the assessee, without confronting the same to the AO, which are not in agreement with the facts of the case. It was, therefore, the prayer of the Ld. Sr. DR that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AR that the addition made by the Ld. AO was based on presumptions, thus, have been vacated by the Ld. CIT(A). The order of Ld. CIT(A) s is ,therefore, deserves to be sustained. 10. We have considered the rival submissions, perused the material available on record and case laws placed before us for our consideration. On perusal of the assessment order, the appellate order and the paper book submitted by the assessee, it is evident that the assessee has submitted before the Ld. AO and Ld. CIT(A) s various documents like cash book, ledger accounts of 6 parties, copy of TCS, ledger of account of 33 parties a/w chart, charts showing details of cash book transactions cash summary of November 2017 to November 2018. Before us, Ld. AR has further su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. Before us also in the course of hearing, it was considered necessary to go through certain additional evidence to establish the genuineness of the transactions, accordingly Ld AR has submitted evidence and also requested to submit further additional evidence. Since all such additional evidence were not there before the authorities below, we cannot expect proper appreciation of facts by them under their respective proceedings. 12. Under such facts and circumstances wherein burden cast upon the assessee to place its explanations duly supported with corroborative evidence are found to be inadequate at both the assessment as well as appellate stage, however, in view of additional evidence, we found substance in the contentions raised by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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