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TMI Blog2024 (11) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... s of this country. It is clear from the observations that the ld. CIT(A) did not believe the submissions of the assessee and doubted the business activities, which are narrated before us by the ld. AR herein above. Since the ld. AR able to show the required documents before us in support of the claim of the assessee, we deem it proper to remand the matter to the file of the Assessing Officer for fresh consideration. The assessee is at liberty to file evidences, if any, before the Assessing Officer. Thus, ground Nos. 2 3 raised by the assessee are allowed for statistical purposes. Addition towards business income of the assessee - For the assessment year under consideration, since the Assessing Officer is required to determine the income of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g to furnish the details of her income, copies of bank accounts, details of cash deposits and also to explain the nature and source of cash deposits. There was no response to the said notice. The Assessing Officer added the entire cash credit to the income of the assessee under section 69A of the Act and charged the same under section 115BBE of the Act and also addition of ₹.95,82,427/- by adopting 10% of total credits other than cash deposits during demonetization by order dated 16.12.2019 under section 144 of the Act. The ld. CIT(A) confirmed the same. 5. Before us, the ld. AR Shri C. Sathish, CA submits that the assessee is a proprietor of Hibah Traders, appointed as a distributor in a commission-based money transfer scheme run by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s bank account, the assessee will transfer the amount to the wallet account provided by Oxigen/Spice/Vodafone/Money-on-Mobile, thereby recharging it to the extent of Rs. 1,005. The assessee will then recharge this amount to the retailer, debiting her wallet account by Rs. 1,005, and crediting the retailer's wallet account by Rs. 1,005. Once the retailer sends the money through his wallet to the family of Mr. X, the amount of Rs. 1,000 will be credited to the bank account of Mr. X's family, and the retailer's wallet account will be debited by Rs. 1,005. Out of this transaction, there is a surplus of Rs. 5 (Rs.1,005-Rs.1,000) with Oxigen/Spice/Vodafone/Mobile. They will pay some amount as a commission to the assessee and the retai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted that in 2019, the assessee faced a significant challenge when her husband fell ill and had to be admitted to the hospital. Additionally, due to the limited income generated and the inability to sustain the business, the assessee discontinued these activities. He further submits that in subsequent assessment year 2018-19, the Assessing Officer passed the order acknowledging the activities carried on by the assessee and estimated the commission amount as 0.8% of total transactions (credit) amount. 9. The ld. DR Ms. Gouthami Manivasagam, JCIT submits that there is no proof to determine the income of the assessee at 0.4% or 0.8%. She referred to page 25 of the paper book and submits that the margins to RMU for RO s signed up by Oxigen an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld. AR herein above. Further, we refer to application filed under Rule 29 of the ITAT Rules, 1963 for admission of additional evidence, wherein, it is sought for re-examination of the matter by the authorities in view of the assessment order for subsequent year AY 2018- 19, wherein, it was stated that the Assessing Officer determined the income of the assessee at 0.8%. The ld. AR submits that the evidence as provided in item Sl. No. 1 to 4 of page 1 to 58 of the paper book were not available before the Assessing Officer and the ld. CIT(A) and sought another opportunity for the assessee. It is also noted that the Assessing Officer discussed similar issue in subsequent AY 2018-19 by bringing on the business activities in detail. We note that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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