Addition u/s 40A(3) unsustainable as in liquor business strict adherence to payment via banking channel not practicable

Shakti Singh Gulia Vs ITO (ITAT Delhi) ITAT Delhi held that addition u/s 40A(3) of the Income Tax Act unsustainable as the assessee has sufficiently demonstrated that strict adherence to payment through banking channel is, at times, not practicable and has the potential to severally hamper the ongoing business of trading in liquor. Facts- The assessee is engaged in the business of trading of liquor and also deriving income from salary/pension from Haryana Government. In the course of scrutiny assessment, AO observed that the assessee has made cash payments in excess of Rs.20,000/- against purc...