Assessing Officer Must Consider Real Nature of Transactions, Not Just Entries, u/s 40A(3) of Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition U/s 40A(3) - book entries in respect of incentives. - Merely because some book entries are routed through the assessee’s cash book the learned Assessing Officer cannot ignore the real nature of the transactions and arbitrarily hold them as cash payments - AT....