https://www.taxtmi.com/caselaws?id=342627 The Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the disallowed cash payments made for the purchase of land under section 40A(3) of the Income Tax Act. The Tribunal found that the land was initially acquired as an investment and later converted into stock in trade, making it exempt from the provisions of section 40A(3) regarding cash payments. en-us Fri, 05 May 2017 00:00:00 +0530 Tue, 09 May 2017 07:40:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342627 The Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the disallowed cash payments made for the purchase of land under section 40A(3) of the Income Tax Act. The Tribunal found that the land was initially acquired as an investment and later converted into stock in trade, making it exempt from the provisions of section 40A(3) regarding cash payments. Case-Laws Income Tax Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342627