1983 (10) TMI 155

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....by ITO u/s 40A(3). We have carefully considered the facts of the case and have heard the departmental representative and the ld. Counsel for the assessee. 2. The relevant facts are that the assessee claimed to have made purchases of super enamelled copper wire of different gauges from the said concern in two lots amounting to Rs. 8,160 and Rs. 4,271 aggregating to Rs. 12,431. The payment for th....

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....les purchased and sold by the manufacturers and dealers only on cash against on delivery basis, that the identity of the payee was fully established and that the seller refused to accept the payments by crossed cheque or crossed demand draft. These circumstances were fully supported by the assessee by producing the necessary evidence, such as certificates from the dealers or agents, the Electric M....