https://www.taxtmi.com/caselaws?id=258454 The Court upheld the Tribunal's decision that Section 40A(3) of the Income-tax Act did not apply to the cash purchases of fish made by the assessee, as the payments were directly to the producers. Rule 6DD(f) was crucial in determining eligibility for benefit under Section 40A(3), clarifying that the benefit applies when purchases are made directly from fishermen or their headmen. The Court affirmed that disallowance under Section 40A(3) was unwarranted in this case, as the purchases were made from primary sources. The Revenue's appeal against the Tribunal's decision was dismissed, concluding in favor of the assessee. en-us Mon, 08 Dec 2014 00:00:00 +0530 Fri, 10 Apr 2015 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258454 The Court upheld the Tribunal's decision that Section 40A(3) of the Income-tax Act did not apply to the cash purchases of fish made by the assessee, as the payments were directly to the producers. Rule 6DD(f) was crucial in determining eligibility for benefit under Section 40A(3), clarifying that the benefit applies when purchases are made directly from fishermen or their headmen. The Court affirmed that disallowance under Section 40A(3) was unwarranted in this case, as the purchases were made from primary sources. The Revenue's appeal against the Tribunal's decision was dismissed, concluding in favor of the assessee. Case-Laws Income Tax Mon, 08 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258454