https://www.taxtmi.com/caselaws?id=65250 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to sustain the addition under section 40A(3) of the IT Act. The judgment highlighted the importance of genuine transactions and the AO's discretion in assessing each case based on relevant factors, leading to the deletion of the disallowance in this instance. en-us Wed, 12 Jun 2002 00:00:00 +0530 Mon, 14 Feb 2011 14:33:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65250 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to sustain the addition under section 40A(3) of the IT Act. The judgment highlighted the importance of genuine transactions and the AO's discretion in assessing each case based on relevant factors, leading to the deletion of the disallowance in this instance. Case-Laws Income Tax Wed, 12 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65250