https://www.taxtmi.com/caselaws?id=61892 The Tribunal allowed the appeal, ruling in favor of the appellant regarding the estimation of gross profit and disallowance under section 40A(3) of the Income-tax Act, 1961. The Tribunal found the estimation of gross profit by the Assessing Officer to be incorrect as valid reasons were not provided, contrary to statutory requirements. Additionally, the disallowance under section 40A(3) was overturned due to genuine cash payments supported by relevant case law and the absence of valid reasons for disallowance. en-us Tue, 05 Mar 1996 00:00:00 +0530 Sat, 15 Jan 2011 18:32:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61892 The Tribunal allowed the appeal, ruling in favor of the appellant regarding the estimation of gross profit and disallowance under section 40A(3) of the Income-tax Act, 1961. The Tribunal found the estimation of gross profit by the Assessing Officer to be incorrect as valid reasons were not provided, contrary to statutory requirements. Additionally, the disallowance under section 40A(3) was overturned due to genuine cash payments supported by relevant case law and the absence of valid reasons for disallowance. Case-Laws Income Tax Tue, 05 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61892