HC justified Sec. 40A(3) disallowance as assessee making cash payments though despite having banking facilities

INCOME TAX : Where assessee-company made cash payments for purpose of acquiring rights to screen movies in theatres to various parties, running into lakhs of rupees, though payees were identifiable, but since inspite of availability of banking facilities, assessee had been regularly effecting cash payments, said payments were to be disallowed in terms of section 40A(3), read with rule 6DD

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