2020 (1) TMI 79

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....stating therein that the counsel who was to attend this appeal was unable to attend for hearing due to professional preoccupation. 2.1 On perusal of order sheet entries, we find that this appeal was posted for hearing on umpteen number of occasions from 05/02/2014 till the last hearing i.e. 28/11/2019 as many as 25 times adjournments, particularly, adjournments took place on the request or there was no compliance from the assessee on the dates fixed for hearing. 2.2 Moreover, as per M.A. No. 03/Hyd/2018, vide its order dated 22/01/2018, the Tribunal recalled the order and posted for hearing on 10/04/2018, but, there was no compliance from the assessee and thereafter, it was adjourned on three occasions. 2.2 Since there is no eviden....

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....5,24,925/-. 3. Because the learned Commissioner of Income Tax, Appeals III, Hyderabad has erred to appreciate the facts of treating Rs. 43,73,124/- paid to Market Sales Staff as compensation relating to business as expenses. 4. An amount of Rs. 2,24,795/- towards provident fund ( employer contribution Rs. 1,08,237/- & employees contribution Rs. 1,16,558/- ) and Rs. 2,69,319/- towards E.S.I.C., ( employer contribution Rs. 1,86,135/- & employees contribution Rs. 83,184/- ) payments made during the year includes both employer and employees contributions. Both these amounts needs to be allowed as a business expenditure. The learned Commissioner of Income Tax, Appeals III, Hyderabad, has allowed only employers contribution and ....

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....Statements of Sri Sanjay Kaul CEO and Sri Y. Bhaskara Rao, GM(F), were also recorded and it was further confirmed that the documents contained the actual transaction i.e. both the cheque part as well as the cash part. The AO after examining the issue elaborately held as under: "4.3 In this connection it may be mentioned here that Sri Sanjay Kaul, C.E.O. of the assessee was the authorized signatory to the transactions of MIs. SMV Agencies (P) Ltd, Delhi, a sister concern of the assessee company, who was available at Hyderabad at the time of survey proceedings. Sri Sanjay Kaul, in his statement Dt. 10.02.2006 had stated that the property in question was purchased by MIs. SMV Agencies (P) Ltd. Delhi. He further stated that Rs. 11,00,0....

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.... made by the AO by observing as under: "4.4 From the above, it is very clear that the land deal in question was made by the appellant. Mis SMV agencies is also a company in the same group and the entire management is made by the aforementioned two persons. There is no doubt that a substantial amount of on money was paid and these amounts are clearly written in cash in the papers referred to supra. Books of accounts and other documents of Mis SMV agencies are also prepared by the aforementioned persons and their subordinates in the appellant company. Therefore writing or entering the transaction in those books is entirely within the hands of the appellant. The evidence is compelling that the land deal was actually done by the appell....