M/S.M K AGROTECH PRIVATE LTD vs. THE ADDL COMMISSIONER OF INCOME TAX

The appeal is allowed

Bench: The Hon'Ble Mr. Justice Ravi Malimath

2) of the Income Tax Act, 1961, (for short, ‘the Act’) was issued. The Assessing Officer disallowed Rs.5,31,09,701/- on the ground that the assessee contravened the provisions of 3 Section 40A(3) of the Act with regard to payments made to the Challakere parties, wherein 20% of the payments made, was disallowed and was added back

M/S SREE LAKSHMI SILKS vs. THE ASST. COMMISSIONER OF INCOME TAX

In the result, the order passed by the tribunal dated 26