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2002 (10) TMI 35 - HC - Income TaxThe respondent-assessee is engaged in the manufacture and sale of various spices. The raw materials for the manufacture of the said products are mainly chilly, corriander, turmeric, etc. The appellant purchased those raw materials from various markets in the State of Tamil Nadu by paying the price in cash. The payment in cash exceeding ten thousand rupees. The assessing authority relying on the provisions of section 40A(3) of the Act read with rule 6DD(j) of the Income-tax Rules disallowed an amount of Rs. 46,32,449 from the expenditure incurred. – Held that assessing officer was not right in disallowing an amount of Rs. 46,32,449 from the expenditure incurred
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