Court held that there were foundational facts warranting invocation of the provisions of section 40A(3) of the 1961 Act was a matter for the fresh consideration of the Commissioner (Appeals). The matter was remanded to the Commissioner (Appeals).
PCIT v. M. Abdul Zahid (2021)437 ITR 132 (Karn.)(HC) PCIT v. Jay Minerals (2021)437 ITR 132 (Karn.)(HC)
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Purchases from unregistered dealers-Matter remanded.