17 December 2011
The assesee is engaged in trading of Iron Scraps Etc. where he purchases all the scraps from the N.E.Railways under Central Government. All the purchases are made in cash as the N.E.Railways accepts only cash. However, the tender of N.E.railways is silent on mode of payment. Now, the A.O.Dis-allows all the purchases under Section 40 A(3). Clearly, all the purchases of the assessee are genuine. Is there any decided case laws or any related section for the same? Is the assesee is covered under Rule 6DD(b)?
18 December 2011
but Rule 6DD specifically mentions "Where payment is made to the Government and, under the rules framed by it,such payment is required to be made in legal tender.". How do we confirm the RULES FRAMED by the Govt. as the legal tender itself is silent about it???
18 December 2011
but Rule 6DD specifically mentions "Where payment is made to the Government and, under the rules framed by it,such payment is required to be made in legal tender.". How do we confirm the RULES FRAMED by the Govt. as the legal tender itself is silent about it???
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