2004 (1) TMI 37

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....y erred in observing: In the case of CIT v. Nikko Auto Ltd. [2002] 256 ITR 476 (P&H), that acceptance of payment by account payee cheque or account payee draft would be hazardous and cumbersome procedure and, therefore, the case of the assessee was fully covered by the exceptions provided under section 40A(3) read with rule 6DD(j) and the Board's circular. We may note that we are not of the vie....