2010 (11) TMI 72

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....6-00 was given to the sellers for the tickets in the assessment year 1988-1989 in cash. This was disallowed by the Assessing Officer by his order dated 26th of March, 1991 under Section 40 (A) (3) of the Income Tax Act, 1961 (the Act) read with rule 6 DD (J) of the Income Tax Rules, 1962 (the Rules).   2. The assessee filed an appeal. It was partly allowed by the Commissioner (Appeals) on ....

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....cts and circumstances of the case and on the proper interpretation and application of S.40 A (3) of the I.T. Act, 1961 and of Rule 6 DD (J) of I.T. Rules, 1962 and on a fair and just appreciation of the rulings relied upon by the Tribunal, was the Tribunal justified both on facts and in law in allowing the cash payments of Rs.24,32,826/- made by the assessee u/s 40 (A) (3) of the I.T. Act, 1961?" ....