1986 (11) TMI 128

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....der s. 40A (3) of the IT Act, 1961. The CIT(A) found that the payments were all made in a running account between the assessee and the sister concern, that the payments were genuine and the party to whom the amounts are paid have been identified, and that the party has given an affidavit to state that they required the payment in cash. He, therefore, applied the instructions given by the CBDT dt. ....