https://www.taxtmi.com/caselaws?id=221455 The High Court dismissed the appeal, finding that the net profit rate applied by the Assessing Officer precluded further disallowance of expenses under Section 40A(3) of the Income Tax Act. The Court relied on precedent to conclude that no substantial question of law arose, as the purchases from the Kothari Group were made by cheque, leading to the rejection of the disallowance. en-us Thu, 10 Jan 2013 00:00:00 +0530 Sat, 09 Mar 2013 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221455 The High Court dismissed the appeal, finding that the net profit rate applied by the Assessing Officer precluded further disallowance of expenses under Section 40A(3) of the Income Tax Act. The Court relied on precedent to conclude that no substantial question of law arose, as the purchases from the Kothari Group were made by cheque, leading to the rejection of the disallowance. Case-Laws Income Tax Thu, 10 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221455