Section 40A(3): Cash Payment- Person means individual truck driver

The assessing officer accumulated various payments made on a single day for making dis allowance under section. 40A(3). While carrying out this exercise the assessing officer summarized all payments to a transport agency rather than a truck owner/driver. The payments made by the assessee to truck drivers are not disputed by the assessing officer. All the payments are genuine and payees are identifiable. The learned Authorized Representative submitted that the assessing officer has taken a hyper-technical view in interpreting the provisions of section 40A(3) to make dis allowance. The assessee ...