https://www.taxtmi.com/caselaws?id=61563 The ITAT dismissed the appeal and upheld the deletion of the addition of Rs. 10,07,000 under s. 40A(3) of the IT Act. The CIT(A)'s decision to delete the addition was supported, citing the exception under r. 6DD(j) due to delayed payment realization when paid by cheque/draft and the genuineness of transactions. The ITAT emphasized genuine transactions, business expediency, and legal exceptions, concluding that the disallowance could not be sustained in this case. en-us Mon, 27 Oct 2003 00:00:00 +0530 Mon, 18 Jun 2012 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61563 The ITAT dismissed the appeal and upheld the deletion of the addition of Rs. 10,07,000 under s. 40A(3) of the IT Act. The CIT(A)'s decision to delete the addition was supported, citing the exception under r. 6DD(j) due to delayed payment realization when paid by cheque/draft and the genuineness of transactions. The ITAT emphasized genuine transactions, business expediency, and legal exceptions, concluding that the disallowance could not be sustained in this case. Case-Laws Income Tax Mon, 27 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61563