[aaykarbhavan] clause (j) of Rule 6DD must be liberally construed

Sri Laxmi Satyanarayana Oil Mills Vs CIT

Income Tax - Sections 40A(3), 260(1), rule 6DD - cash basis - proof of payment.

Whether once an assessee furnishes the circumstances under which the payment in the manner prescribed in Section 40A (3) was not practicable or would have caused genuine problems, the proviso, and thereby the Rule 6DD, get attracted - Whether in case there existed some justification for the traders, in insisting the payment of amounts, in cash, disallowance u/s 40A(3) can be made - Whether the circumstances mentioned in the circular of the CBDT can be said to be exhaustive - Whether the CBDT has expressed the view that clause (j) of Rule 6DD must be liberally construed.. - Assessee's appeal allowed : ANDHRA PRADESH HIGH COURT

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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