https://www.taxtmi.com/caselaws?id=25838 The High Court upheld the Appellate Assistant Commissioner's authority to direct inquiries into transactions and the applicability of section 40A(3) of the Income-tax Act, 1961. The Court found the directive for further investigation to be within the Commissioner's broad powers and justified, ruling against the assessee. Each party was ordered to bear their own costs in the reference proceedings. en-us Sat, 07 Feb 1987 00:00:00 +0530 Mon, 01 Feb 2010 12:34:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25838 The High Court upheld the Appellate Assistant Commissioner's authority to direct inquiries into transactions and the applicability of section 40A(3) of the Income-tax Act, 1961. The Court found the directive for further investigation to be within the Commissioner's broad powers and justified, ruling against the assessee. Each party was ordered to bear their own costs in the reference proceedings. Case-Laws Income Tax Sat, 07 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25838