https://www.taxtmi.com/caselaws?id=18343 Disputed cash payments were treated as attracting section 40A(3) of the Income-tax Act, 1961 because they exceeded the statutory limit. The Tribunal erred in law in setting aside the assessment on the assumption that the assessee had not been given an opportunity to explain discrepancies in the books, when the record showed that the assessee had been called upon to explain the cash payments and the assessing authority had considered the material. The Tribunal's order was therefore set aside and the matter remanded for fresh decision, with liberty to the assessee to adduce further evidence. en-us Tue, 20 Feb 1996 00:00:00 +0530 Wed, 30 Sep 2009 12:51:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18343 Disputed cash payments were treated as attracting section 40A(3) of the Income-tax Act, 1961 because they exceeded the statutory limit. The Tribunal erred in law in setting aside the assessment on the assumption that the assessee had not been given an opportunity to explain discrepancies in the books, when the record showed that the assessee had been called upon to explain the cash payments and the assessing authority had considered the material. The Tribunal's order was therefore set aside and the matter remanded for fresh decision, with liberty to the assessee to adduce further evidence. Case-Laws Income Tax Tue, 20 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18343