https://www.taxtmi.com/caselaws?id=426611 The Tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax's order under section 263. The Assessing Officer's decision not to disallow cash payments made to residents of villages without banking facilities under section 40A(3) was upheld, as per Rule 6DD(g). The Tribunal also ruled that the issue of non-verification of advances from customers was not within the scope of reassessment proceedings and that the order under section 263 was time-barred. The original assessment order was deemed not erroneous or prejudicial to the revenue's interests, leading to the appeal's success. en-us Mon, 06 Jun 2022 00:00:00 +0530 Mon, 22 Aug 2022 08:35:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426611 The Tribunal allowed the appeal, setting aside the Principal Commissioner of Income Tax's order under section 263. The Assessing Officer's decision not to disallow cash payments made to residents of villages without banking facilities under section 40A(3) was upheld, as per Rule 6DD(g). The Tribunal also ruled that the issue of non-verification of advances from customers was not within the scope of reassessment proceedings and that the order under section 263 was time-barred. The original assessment order was deemed not erroneous or prejudicial to the revenue's interests, leading to the appeal's success. Case-Laws Income Tax Mon, 06 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426611