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2017 (10) TMI 1492 - AT - Income TaxAddition u/s.40A(3) - cash payment exceeding permissible limits - HELD THAT:- There is no finding of the AO in the assessment order that the payments made are not genuine. Further, it is not in dispute that the sale deeds for purchase of land were registered with the revenue department of the Government. Therefore, the decision of this Bench of the Tribunal in the case of Subhashree Enterprises [2017 (10) TMI 1491 - ITAT CUTTACK] squarely applies to the facts of the assessee’s case. Hence, we set aside the orders of the lower authorities and delete the disallowance made u/s. 40A(3) and allow the grounds of appeal of the assessee.
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