Andhra Pradesh H.C : Whether since assessee had placed proof of payment of consideration for its transaction to seller, and later admitted payment and there was no doubt about genuineness of payment, no disallowance could be made under section 40A(3)

High Court Of Andhra Pradesh Sri Laxmi Satyanarayana Oil Mill Vs. CIT, A.P. Hyderabad Section : 40A(3) L. Narasimha Reddy And C. Kodanda Ram, JJ. R.C. No. 16 Of 2000 June 12, 2014 ORDER L. Narasimha Reddy, J. – The applicant is an Oil Mill, functioning at Khammam and is an assessee under the Income…

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