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2003 (7) TMI 41 - HC - Income Tax"Whether, Tribunal is right in law in confirming the order made by the Commissioner of Income-tax (Appeals) deleting the disallowance made by the Income-tax Officer attracting the provisions of section 40A(3)?" - assessee found it practicable and expedient to entrust all her business transactions to the firm as her agent - If, in such a set of circumstances, the firm makes payment on behalf of the assessee by account payee cheques, by no stretch of imagination it can be said that there was any cash transaction or there was any possibility of having "chances and opportunities to use or create black money." – Thus, we answer the question in the affirmative, i.e., in favour of the assessee and against the Revenue.
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