On finding a lack of inquiry on the part of AO in allowing cash sales, which renders the assessment order erroneous so far as it is prejudicial to the interests of revenue, the Indore ITAT upheld the order of disallowance u/s 40A(3) of the Income Tax Act, passed by Pr. CIT by invoking Section 263. The Bench of the ITAT comprising of Vijay Pal Rao (Judicial Member) and...