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TMI Blog2014 (8) TMI 1250X X X X Extracts X X X X X X X X Extracts X X X X ..... ave appreciated the fact that during the appeal proceedings no evidence was filed by the assessee to show that all the payments made were below Rs. 20,000/-. The assessee, proprietor of Shripal Impex engaged in export of readymade garments filed return of income declaring loss of Rs. 10,63,040/-. Assessment was completed under section 143(3) of the Act on 29.12.2011 determining income at Rs. 1,56,13,215/-. While completing the assessment the Assessing Officer made disallowance of Rs. 1,65,44,149/- under section 40A(3) of the Act on the ground that assessee has made cash payments over and above Rs. 20,000/- and above towards purchases. On appeal, Commissioner of Income Tax (Appeals) deleted the disallowance made under section 40A(3) of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not audited by an Auditor under section 44AB of the Act even though the turnover exceeded Rs. 40,00,000/-. Therefore, in the absence of any audit report and depending upon ledger accounts and in the absence of material evidences for cash payments, it is not possible to say that these payments are all made at below Rs. 20,000/- and therefore, the Assessing Officer disallowed the said cash payments to the tune of Rs. 1,65,44,149/- under section 40A(3) of the Act. Departmental Representative submits that in such circumstances Commissioner of Income Tax (Appeals) is not justified in deleting the disallowance based on the written submissions and the bank account copies furnished by the AR of the assessee before him stating that Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peals), the assessee submitted that details regarding cash purchases were furnished before the Assessing Officer, the audit report was also furnished along with return of income. Before us, referring to page 28 to 49 of the paper book which is copy of return and 44AB report counsel submits that return along with audit report was furnished and details regarding cash purchases were furnished before the Assessing Officer. On hearing both the parties, we are of the considered view that this issue has to be re-examined afresh in detail with reference to the findings given by the Assessing Officer and also submissions of the assessee's counsel and also with reference to evidences produced before us. In the circumstances, we remit this issue t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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