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2003 (5) TMI 56 - DELHI HIGH COURTThe appellant claims to be a sub-broker and engaged in purchase and sale of shares and debentures, etc. He was found to have made some cash payments exceeding Rs. 10,000 to the tune of Rs. 5,10,921 in violation of the provisions of section 40A(3) of the Income-tax Act read with rule 6DD. Though he explained his position but the Income-tax Officer felt dissatisfied and ordered addition of Rs. 5,10,921 for the assessment year 1992 1993 by order dated October 4, 1993. He took appeal against this and the Appellate Commissioner by order dated July 6, 1994, directed its deletion – The Income-tax Appellate Tribunal's order resultantly becomes unsustainable and is set aside and that passed by the Appellate Commissioner is affirmed to allow this appeal.
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