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of <h1>Court allows deduction for cash payments for raw materials exceeding limit</h1> <h3>Commissioner Of Income-Tax Versus Narang Ram Chiranji Lal</h3> The High Court ruled in favor of the assessee, directing the Income-tax Appellate Tribunal to refer a question on the deduction of cash payments for raw ... Business Expenditure, Payments Exceeding Rs. 2500, Unavoidable Circumstances The High Court directed the Income-tax Appellate Tribunal to refer a question regarding the deduction of payments made for raw materials in cash exceeding the limit. The Tribunal accepted the explanation that cash payments were made in exceptional circumstances, supported by an uncontroverted affidavit. The Court ruled in favor of the assessee, allowing the deduction of the payments.
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