Saturday 23 January 2016

Cash purchases disallowed as assessee failed to prove that purchases were made via agents located in

IT : Where assessee made cash payments in excess of Rs. 20,000 for purchase of crackers, in absence of even names of agencies or agents or retailers living in villages to whom said payments were made on a day-to-day basis, impugned disallowance made by authorities below under section 40A(3) was to be confirmed

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