2020 (12) TMI 10

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.... in disallowing the amount of Rs. 56,36,188/- on account of payment made to third parties in the facts and circumstances of the case. 3. Heard both sides and perused the materials available on record. The facts emanating from records are that the assessee is an individual and engaged in the business of supplying water tankers to various locations as per the directions of the Government. The Assessing Officer found the amount to the extent of Rs. 56,36,188/- has not actually paid to sub-contractors and were paid through journal vouchers in his books of accounts. The Assessing Officer doubted the sanctity of such payments and in his opinion the payment must be through cash/cheques. In order to verify the genuineness of such payments, the A....

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....eems that the subcontractors instructed the assessee to make payments to third parties on behalf of the sub-contractors and accordingly, the assessee issued account payee cheque in the name of such third parties. As observed by both Authorities below that the assessee failed to produce any supporting evidences in tune with the contentions made before both the Authorities below and now before this Tribunal, the Ld. AR fairly conceded that the assessee is ready to produce all the necessary evidences in support of his contentions. The Ld. AR prayed to remand the issue to the file of Assessing Officer for fresh examination in terms of the materials/evidences produced before this Tribunal. 6. Shri S.P. Walimbe, the Ld. DR reported no objectio....