Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Cash expenditure was disallowed under section 40A(3) because the assessee failed to substantiate the claimed Rule 6DD exception with supporting ledger accounts or confirmation from the payee. The Tribunal noted that the assessee had dealt with the payee and that most payments were made in cash, so the case did not fall within the statutory exception. The disallowance was therefore upheld for the lead year and applied to the remaining assessment years, with all four appeals dismissed.
Cash expenditure was disallowed under section 40A(3) because the assessee failed to substantiate the claimed Rule 6DD exception with supporting ledger accounts or confirmation from the payee. The Tribunal noted that the assessee had dealt with the payee and that most payments were made in cash, so the case did not fall within the statutory exception. The disallowance was therefore upheld for the lead year and applied to the remaining assessment years, with all four appeals dismissed.
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