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2012 (2) TMI 307 - DELHI HIGH COURTPayments above Rs.10,000/- made in cash – A.Y. 1992-93, 1993-94 and 1994-95 – dis-allowance u/s 40A(3) - Rule 6 DD (j) of the Income Tax Rules, 1962 – assessee contending exceptional/unavoidable circumstances for making payment in cash – Held that:- Assessee had furnished explanations on the basis of the bank statements as well as the ledger accounts of the payees to show that the assessee did not have sufficient cash balance. This position is clear and cannot be doubted. Further it would have missed out on the business opportunity, if had failed to make cash payments. These were relevant and material aspects which were required to be considered and examined by the tribunal but have been overlooked. Therefore dis-allowance is deleted – Decided in favor of assessee.
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