https://www.taxtmi.com/caselaws?id=55680 The Tribunal upheld the CIT (Appeals) decision, ruling that payments to two parties were not subject to section 40A(3) as they constituted sale proceeds. For the third party, payments were deemed to be made under urgent business necessity, meeting the conditions of rule 6DD(j) and the CBDT Circular. Consequently, the appeal was dismissed, affirming the deletion of the disallowance under section 40A(3) by the Assessing Officer. en-us Wed, 02 Mar 1994 00:00:00 +0530 Mon, 29 Nov 2010 13:45:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55680 The Tribunal upheld the CIT (Appeals) decision, ruling that payments to two parties were not subject to section 40A(3) as they constituted sale proceeds. For the third party, payments were deemed to be made under urgent business necessity, meeting the conditions of rule 6DD(j) and the CBDT Circular. Consequently, the appeal was dismissed, affirming the deletion of the disallowance under section 40A(3) by the Assessing Officer. Case-Laws Income Tax Wed, 02 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55680