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No sec. 40(A)(2) disallowance if genuineness of transaction was established for making cash payment to land owners

July 13, 2018[2018] 94 401 (Jaipur - Trib.)

IT : No disallowance under section 40A(3) where identity of sellers from whom various plots of land had been purchased in cash and source of cash payments as withdrawals from assessee's bank account had been established and genuineness of transaction had also been established as evidenced by registered sale deeds and lastly, test of business expediency had also been met

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