Supreme Court · 1991 INSC 176 · Decided 7 August 1991
Attar Singh Gurmukh Singh v. Income Tax Officer, Ludhiana ETC.
- Court
- Supreme Court of India
- Citation
- 1991 INSC 176 · [1991] 3 S.C.R. 405
- Case number
- CIVIL APPEAL No. 11/1991
- Decided
- 7 August 1991
- Bench
- K. JAGANNATHA SHETTY, YOGESHWAR DAYAL (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 40A(3)
Headnote
Income Tax Act, 1961/lncome Tax Rules, 1962-Section 40A(3)/ Rule 6DD-Validity of-Applicability to payments made for acquiring stock-in-trade. The assessees in these appeals have made payments · in cash exceeding a sum of Rs.2500 for some of the purchases of stock-in-trade. So while authority disallowed deduction on. account of such payments held to be in contravention of the terms of section 40A(3) of the Income Tax Act, 1961 read with the Rule 600 of the Income Tax Rules, 1962. The assessees have challenged the same. So in the instant case the question under
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