In the result, the appeal filed by the assessee is allowed
Bench: Sh. Manoj Kumar Aggarwal & Sh. Udayan Dasgupta
e-mail caashokgupta@yahoo.co.in, but no compliance have been made by both the parties. The payments made by cheque against unaccounted purchases or sale to hawala operators was received back in cash. The amount shown as paid to the bogus party comes back to the Appellant as no purchases and sale are made from them. The cash so received back