https://www.taxtmi.com/caselaws?id=16954 The High Court upheld the decision in favor of the assessee, ruling against the disallowance of Rs. 8,72,130 made by the Income-tax Officer under section 40A(3). The Tribunal and appellate authority found the transactions genuine, justifying the cash payments based on exceptions outlined in rule 6DD and Board's Circular No. 220. Despite challenges to the authenticity of truck numbers, lower authorities deemed the explanations satisfactory. The judgment emphasizes the need for evidence, natural justice, and the Income-tax Officer's discretion to act on new facts within the bounds of the law. en-us Wed, 24 Apr 1996 00:00:00 +0530 Mon, 14 Sep 2009 12:36:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16954 The High Court upheld the decision in favor of the assessee, ruling against the disallowance of Rs. 8,72,130 made by the Income-tax Officer under section 40A(3). The Tribunal and appellate authority found the transactions genuine, justifying the cash payments based on exceptions outlined in rule 6DD and Board's Circular No. 220. Despite challenges to the authenticity of truck numbers, lower authorities deemed the explanations satisfactory. The judgment emphasizes the need for evidence, natural justice, and the Income-tax Officer's discretion to act on new facts within the bounds of the law. Case-Laws Income Tax Wed, 24 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16954