Walford Transport (Eastern India) Ltd. v. CIT

240 ITR 902High Court1999#5475 most cited

What is Walford Transport (Eastern India) Ltd. v. CIT authority for?

Section 40A(3) of the Income Tax Act aims to prevent tax evasion and unaccounted money, not to penalize genuine cash payments. When the genuineness of a transaction and the payee's identity are established, a liberal view may be taken for compelling circumstances.

21

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2023.

Also referred to as

Walford Transport Eastern India v CIT · 1999 · 240 ITR 902 · Section 40A(3) · cash payment · tax evasion · genuine transaction · payee identity · compelling circumstances · Income Tax Act

Judgments citing Walford Transport (Eastern India) Ltd. v. CIT

Smt Saira Banu vs. The Assistant Commissioner of Income Tax

ITA/228/2009HC Karnataka26 Jun 2015

Bench: ARAVIND KUMAR,VINEET SARAN

Section 143(1)Section 143(3)Section 260Section 40A(3)

…Income Tax Officer ITA NO.5040/2009 (Dharwad Bench) vi. Patil Vijaykumar and others –vs- Union of India & another [1985] 151 ITR 48 (Karn) vii. Walford Transport (Eastern India) Ltd. –vs- Commissioner of Income Tax [1999] 240 ITR 902 viii. Assistant Commissioner of Income Tax –vs- Sri Saraswathi Iron Foundry [2006] 287 ITR 313 (Karn) It has been vehemently contended on behalf of the appellant that the purpose of Section 40A(3) of the Act is not to penalize the assessee for making cash payment but it is only 7 preventive and to check…