Allowing the appeal the Court held that since the affidavits filed by assessee during assessment proceeding, which were not rebutted by revenue, cash payments made as per insistence of the seller no disallowance can be made. (AY. 2000-01)
Sangeeta Verma (Smt.) v. CIT (2022) 284 Taxman 303 (All.)(HC)
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Agricultural land-Seller insisting cash payment-Affidavit by assessee-Disallowance is held to be not justified.