No section 40A(3) disallowance for Cash payment as part of sale consideration which is incorporated in purchase deed

Shivaji Bhimaji Gaikwad Vs ITO (ITAT Pune) No section 40A(3) disallowance for Cash payment for land as part of sale consideration which is incorporated in purchase deed Brief facts relating to the issue on hand are that the assessee is an individual and derives income from land deals and construction. The assessee filed return of income declaring a total income of Rs.1,45,240/-and agricultural income at Rs.80,700/-. Under scrutiny notices u/s. 143(2) and 142(1) of the Act were issued. In response to the said notices, the assessee participated in the assessment proceedings. During the course of...