https://www.taxtmi.com/caselaws?id=39405 The High Court held that the Tribunal's disallowance of Rs. 4,03,938 under section 40(c) of the Income-tax Act, 1961 was not sustainable. The Court ruled that the payment to the Rajpura Company was a genuine sale agreement and not an expenditure under section 40(c). The Court also determined that the mistake in the Tribunal's order was not apparent on the record, thus justifying the Tribunal's decision to reject the application for rectification under section 254(2). en-us Mon, 24 Mar 1975 00:00:00 +0530 Fri, 16 Apr 2010 12:35:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39405 The High Court held that the Tribunal's disallowance of Rs. 4,03,938 under section 40(c) of the Income-tax Act, 1961 was not sustainable. The Court ruled that the payment to the Rajpura Company was a genuine sale agreement and not an expenditure under section 40(c). The Court also determined that the mistake in the Tribunal's order was not apparent on the record, thus justifying the Tribunal's decision to reject the application for rectification under section 254(2). Case-Laws Income Tax Mon, 24 Mar 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39405