2019 (7) TMI 1995

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....PER DUVVURU RL REDDY, JUDICIAL MEMBER: This appeal filed by the assessee is directed against the order of the ld. Commissioner of Income Tax (Appeals) 10, Chennai dated 30.11.2018 relevant to the assessment year 2005-06. The only effective ground raised in the appeal of the assessee relates to confirmation of disallowance made under section 40A(3) of the Income Tax Act, 1961 ["Act" in short] tow....

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....t under section 143(3) r.w.s. 147 of the Act and determined the income of the assessee at Rs..22,73,612/- after making disallowances. On appeal, after considering the written submissions of the assessee, the ld. CIT(A) confirmed the disallowance made under section 40A(3) of the Act. 3. On being aggrieved, the assessee is in appeal before the Tribunal. The ld. Counsel for the assessee has submitte....

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.... authorities below and gone through the orders of authorities below. In this case, the assessee is engaged in the business of manufacture and export of finished leather. The issue in appeal pertains to disallowance of purchase of raw skins under section 40A(3) of the Act made in cash in excess of Rs..20,000/- from various suppliers. The Assessing Officer held that the assessee had not made any dir....

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...., wherein, we find that the Assessing Officer has reiterated what was available in the assessment order and nothing more than that after retention of the additional evidences, surprisingly, for nearly eight years and the reason for that may be best known to him. On perusal of the remand report, as reproduced in the appellate order, the only contention of the Assessing Officer is that the suppliers....