Held that in the light of specific exception provided under rule 6DD(e) in respect of agricultural produce, since the assessee had made purchases of sugarcane, which was essentially an agricultural produce, coupled with the fact that Department had earlier accepted this claim of the assessee. Order of CIT (A) is affirmed. (AY.2014-15)
Dy. CIT v. Laxmipathi Balaji Sugar and Distilleries P. Ltd. (2022)100 ITR 58 (SN)(Delhi) (Trib)
S. 40A(3) :Expenses or payments not deductible-Cash payments exceeding prescribed limits-Agricultural produce-Payments for purchases of sugarcane-Not disallowable. [R. 6DD(e)