M/S PYRAMID DEVELOPERS,NAGPUR vs. JOINT CIT RANGE 1, NAGPUR

In the result, appeal by the assessee is allowed for statistical

Bench: Shri Sandeep Gosain & Shri G. Manjunatha

disallowance of cash payments of ` 43 lakh under section 40A(3) of the Act. The learned Counsel for assessee submitted that the learned Commissioner (Appeals) erred in not appreciating the fact in right perspective even though the assessee has filed necessary evidences to prove necessity of making cash payment for purchase of lands and also the business exigencies. The learned

ITO WARD-1(1) NAGPUR, NAGPUR vs. ASHWAMI SALES AND MARKETING PVT.LTD, NAGPUR