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TMI Blog2004 (5) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... rted by the confirmatory letter issued by the seller. These findings have been confirmed by the Tribunal - No substantial question of law arises out of the order of the Tribunal. - - - - - Dated:- 11-5-2004 - Judge(s) : N. K. SUD., S. S. GREWAL. JUDGMENT The judgment of the court was delivered by N.K. SUD J. - The Revenue has filed this appeal under section 260A of the Income-tax Act, 1961 (for short "the Act"), against the order of the Income-tax Appellate Tribunal, Chandigarh Bench-A, Chandigarh (for short the "Tribunal"), dated April 24, 2002, whereby its appeal against the order of the Commissioner of Income-tax (Appeals) for the assessment year 1993-94 has been dismissed. During the course of assessment proceedings, the Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een made on the insistence of the seller and this claim of the assessee was supported by the confirmatory letter issued by the seller. These findings have been confirmed by the Tribunal in the Revenue's appeal against the order of the Commissioner of Income-tax (Appeals) vide the impugned order dated April 24, 2002. Counsel for the appellant contended that the Commissioner of Income-tax (Appeals) as well as the Tribunal had erred in holding that the case of the assessee was covered by the exceptions provided under rule 6DD(j). He pointed out that the assessee had given different explanations on different occasions and as such was not entitled to the benefit of the said rule. We are unable to accept this contention. The categorical stand o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ircular provides that the requirement of rule 6DD(j) would stand satisfied if a letter is produced by an assessee in respect of each transaction falling within the categories mentioned in the said circular giving full particulars of his address, sales tax registration number, if any, for the purpose of proper identification to enable the Income-tax Officer to satisfy himself about the genuineness of the transaction. It is, therefore, evident that section 40A(3) has been enacted to check the flow of black money and is basically directed towards the transactions which cannot be cross checked and cross verified." We are, therefore, satisfied that the transactions of cash payments in the present case are protected by the exceptions provided u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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