No section 40A disallowance on Cash Payment for fish or fish product

CIT Vs Ayshwarya Sea Food Pvt. Ltd. (Madras High Court) on facts, the Commissioner of Income Tax (Appeals) and the Tribunal held that the assessee had purchased shrimp products from a supplier at Nellore and the explanation given by them at the first instance before the Assessing Officer is that they are doing shrimp feed trading business and they have purchased shrimp feed from a company at Chennai and the invoice is directly raised locally at Chennai and they have sold the shrimp feed at Nellore and Ongole Districts of Andhra Pradesh and they have sold the feed to the shrimps farmers and dep...