Cash Payment exceeding prescribed limit towards purchase of land disallowed as per section 40A(3)

Pravinbhai H. Patel Vs ACIT (ITAT Ahmedabad) ITAT Ahmedabad held that payment of cash towards purchase of land exceeding the prescribed limit is duly disallowed under section 40A(3) of the Income Tax Act. Facts- The order passed by the Appellate Commissioner in confirming addition of Rs.1,72,39,262/- under Section 40A(3) of the Act is under challenge. According to the appellant, the same was ordered without granting an opportunity of being heard. Similarly, estimation of addition of Rs.50 Lakhs is also under challenge on the same ground of not granting opportunity of being heard to the appella...