In the result, ground no.1 raised by the Revenue is accordingly dismissed
Bench: Shris.Rifaur Rahman & Shri Sunil Kumar Singhhma Agro Industries Limited, Vs. Dcit, Central Circle, 2/220, 2Nd Floor, Glory Plaza, Agra. Opp. Soor Sadan, M.G. Road, Agra – 282 002. (Pan :Aacch0450J)
transfer entries from his bank account and then, he has stated that he had withdrawn the cash for making payment to the farmers from whom, the alive animals have been purchased. Thus, the statement is absolutely clear and the PCIT cannot sit over the judgment of AO and, further, the PCIT, in his order u/s 263 has invoked clause