TMI Blog2019 (3) TMI 1574X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in the said Rule and therefore, confirmed the disallowance made by the Assessing Officer. The correctness of the order passed by the CIT(A) was contested before the Tribunal. The Tribunal after re-examining the factual position held that the assessee has not been able to substantiate the existence of any circumstance which would call for application of Rule 6DD(j) and therefore, confirmed the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Act, 1961(the Act) is directed against the order dated 18.12.2009 passed by the Income Tax Appellate Tribunal, A Bench, Chennai in I.T.A.No.36/(MDs)/2007 for the assessment years 2003-04, and was admitted on 25.04.2011 on the following substantial question of law: Whether the Tribunal was right in law in holding that the payments made in, Cash is to be disallowed under Sec.4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e was the proprietor of two concerns, he was able to produce the books of only one concern when called upon by the Assessing Officer. 4. In respect of a concern, for which books were not produced the Assessing Officer adopted average net profit of the preceding three years and accordingly the profit was estimated. The Assessing Officer on perusal of the cash book, which was produced in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee. This has made the assessee to come before us by way of this appeal, raising the above mentioned substantial question of law. 6. As could be seen from the order passed by the CIT-(A), the Assessee in the written submission accepted the transactions and stated that it was for business purposes and not for personal reasons. The assessee's only plea was that cash payments were necessita ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the assessee himself admitted the cash payment and pleaded that there was business necessity warranting cash payment. Unfortunately, the Statute does not provide for any relief to such an assessee and if at all, the assessee should escape from the rigour of Section 40A(3), then he should bring his case within the ambit of Rule 6DD(j), which assessee was miserably failed. 9. Thus, we find t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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