https://www.taxtmi.com/caselaws?id=220974 The Tribunal upheld the jurisdiction of the Additional CIT, dismissing the assessee's challenge based on failure to raise objections in a timely manner. The disallowance under Section 40A(3) for cash payments made for land purchase was upheld due to lack of evidence of business exigency. The charging of interest under Sections 234A, 234B, and 234C was deemed mandatory and consequential. The appeal was dismissed, and the stay granted was vacated. en-us Wed, 25 Jul 2012 00:00:00 +0530 Mon, 31 Dec 2012 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220974 The Tribunal upheld the jurisdiction of the Additional CIT, dismissing the assessee's challenge based on failure to raise objections in a timely manner. The disallowance under Section 40A(3) for cash payments made for land purchase was upheld due to lack of evidence of business exigency. The charging of interest under Sections 234A, 234B, and 234C was deemed mandatory and consequential. The appeal was dismissed, and the stay granted was vacated. Case-Laws Income Tax Wed, 25 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220974