2024 (6) TMI 542

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sed in ITA No. 1812/Bang/2019, dated 20.12.2019 by the Income Tax Appellate Tribunal, SMC-C Bench, Bengaluru vide Annexure-A to the writ petition, the assessee has preferred this appeal. 2. The dispute pertains to non-acceptance of the statement of the assessee, that he has incurred an expenditure of a sum of Rs. 3,47,717/- for the assessment year 2013-14. 3. The case of the assessee is that on the last day of the assessment year 2013-14 i.e., on 31.03.2013, he made the following payments in cash as follows : Sl. No. Name of party Date of payment Inv. No. Amount 01 Vimal Plastics 31.03.2013 2702 Rs. 2,11,363/- 02 Radhey Shyam Hosiery 31.03.2013 1479,2704 Rs. 90,454/- 03 A2A Clothing Co. Pvt. Ltd. 31.03.2013 88....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... and gains of business or profession and accordingly chargeable to income-tax as income of the subsequent year if the payment or aggregate of payments made to a person in a day, exceeds ten thousand rupees: Provided that no disallowance shall be made and no payment shall be deemed to be the profits and gains of business or profession under sub-section (3) and this sub-section where a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, or use of electronic clearing system through a bank account or through such other electronic mode as may be prescribed, exceeds ten thousand rupees, in such cases and under such circumstances as may be prescribed,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....is on the assessee. In the instant case, the assessee is in the business of cloth. He has not produced any believable document before the Assessing Officer to show that there was an exigency and he had to necessarily make payments on 31st March, 2013 itself to the tune of Rs. 3,47,717/- to the persons as contended by him and he has also failed to show that he could not have made payment by way of cheque. He has also not produced any believable document to show that the said persons have infact received the said consideration and have declared the same in their income. Except the oral submission to that effect, no document has been produced. The Commissioner of Income Tax (A) of Hubballi in paragraph No. 4.1 has recorded as follows : "4.1.....