2020 (3) TMI 52

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Senior Standing Counsel ORDER The petitioner has challenged an order of assessment dated 30.12.2019 for Assessment Year (AY) 2017-18 passed in terms of the provisions of the Income Tax Act, 1961 (in short 'Act'). 2. Two disallowances have been effected, the first in terms of Section 40A(3) of the Act that deals with 100% disallowance of expenditure in cash, in excess of a permitted lim....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....no farmer sells fire wood directly in the open market and hence the protection under Rule 6DD would not be available to the petitioner. 4. In addition, certain credits appearing in the bank accounts of the petitioner were proposed to be disallowed under Section 68 of the Act. The petitioner explained the same as being loans advanced by twelve creditors for medical treatment of Sadasivam V A, stat....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....y be challenged by way of first appeal before the Commissioner of Income Tax (Appeals) within a period of three weeks from today. If the appeal is filed within the period as aforesaid, the same shall be taken on file by the office of the Commissioner (Appeals) and disposed on merits and in accordance with law, without reference to limitation. 8. Since the powers of the Commissioner (Appeals) are ....