1996 (5) TMI 8 - HC - Income Tax

Summary

The High Court of Madhya Pradesh ruled in favor of the assessee in a case involving the deletion of a disallowance under section 40A(3) of the Income-tax Act, 1961. The Tribunal found the payments made in cash were justified, overturning the Income-tax Officer's decision. The Court concluded that the matter involved no question of law, and the Tribunal's decision was justified. The reference was answered in favor of the assessee and against the Revenue.