INCOME TAX : Where Assessing Officer made disallowance under section 40A(3) in respect of cash payment for purchasing agricultural land, since affidavits filed by assessee during assessment proceeding contained clear recital that sellers insisted for cash payment, their identity was not in doubt, and sale deeds were also admitted to be registered document, no disallowance under section 40A(3) was called forINCOME TAX : Where Assessing Officer made disallowance under section 40A(3) in respect of cash payment for purchasing agricultural land, since affidavits filed by assessee during assessment proceeding contained clear recital that sellers insisted for cash payment, their identity was not in doubt, and sale deeds were also admitted to be registered document, no disallowance under section 40A(3) was called forwww.taxmann.com Latest Case LawsRead More
