https://www.taxtmi.com/caselaws?id=18592 The Andhra Pradesh High Court ruled in favor of the assessee in a case involving the interpretation of section 69D of the Income Tax Act. The court held that repayment through a demand draft should be considered equivalent to an account payee cheque drawn on a bank for the purposes of disallowance under section 69D. As a result, the addition made by the Income-tax Officer was deleted from the total income of the assessee, emphasizing that the legislative intent behind section 69D is to ensure transparency in transactions and verify the authenticity of repayments. en-us Tue, 07 Feb 1995 00:00:00 +0530 Thu, 01 Oct 2009 18:24:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18592 The Andhra Pradesh High Court ruled in favor of the assessee in a case involving the interpretation of section 69D of the Income Tax Act. The court held that repayment through a demand draft should be considered equivalent to an account payee cheque drawn on a bank for the purposes of disallowance under section 69D. As a result, the addition made by the Income-tax Officer was deleted from the total income of the assessee, emphasizing that the legislative intent behind section 69D is to ensure transparency in transactions and verify the authenticity of repayments. Case-Laws Income Tax Tue, 07 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18592