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Remand the matter to the file of the AO with a direction to examine the business exigency of the advances of Rs. 30,89,000/- received by the assessee and decide the issue in accordance with law after giving fair opportunity of hearing to the assessee.

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Sec. 69A & 147 of Income Tax Act, 1961— Reassessment —Since the evidence filed by the assessee before the Tribunal is additional evidence and it goes goes to the root of the matter, it is fit and proper to admit the same and since the additional evidence was not filed before the authorities below, due to which, there was no occasion to examine the same by the AO and CIT(A), the matter was remanded to the file of the AO with a direction to examine the business exigency of the advances received by the assessee and decide the issue in accordance with law after giving fair opportunity of hearing to the assessee - N. PADMAJA V/s DEPUTY CIT - [2020] 27 ITCD Online 014 (ITAT-HYDERABAD)