S. 40A(3) Purchase of poultry feeds falls under exceptions clause provided in Rule 6DD(e)

Advertisement Admittedly, the assessee had made payments to M/s Pickme Feeds in cash by directly depositing cash in the bank account of M/s Pickme Feeds for supply of poultry feeds to the assessee. The assessee in turn supplies the poultry feeds to various farmers in the rural areas. It is observed that the assessee in terms of his contract is bound to maintain constant and uninterrupted supplies of poultry feeds and also ensure that at no point in time, the farmers are deprived of such material. Apparently, the concerned supplier M/s Pickme Feeds insisted on cash payments for ensuring cont...