1990 (11) TMI 131 - HC - Income Tax

Summary

The High Court of Allahabad ruled in favor of the assessee in a case involving exemption under rule 6DD(j) of the Income-tax Rules for certain cash payments made during the assessment year 1972-73. The Tribunal accepted the explanations provided by the assessee for the payments, finding them genuine and in compliance with the rules. The Court upheld the Tribunal's decision, stating that there was no reason to reject the assessee's explanations.