https://www.taxtmi.com/caselaws?id=214287 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the disallowance of Rs. 62,10,000 under Section 40A(3) of the Income Tax Act, 1961. The Tribunal held that the provisions applicable in the year of incurring the expenditure (assessment year 2004-05) should be applied, and since the payments were made by crossed cheques, no disallowance was justified. The Tribunal distinguished between the provisions of Section 40A(3) in the assessment years 2004-05 and 2008-09, emphasizing that the law in force at the time of incurring the liability should govern. en-us Thu, 09 Feb 2012 00:00:00 +0530 Sat, 16 Apr 2016 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214287 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the disallowance of Rs. 62,10,000 under Section 40A(3) of the Income Tax Act, 1961. The Tribunal held that the provisions applicable in the year of incurring the expenditure (assessment year 2004-05) should be applied, and since the payments were made by crossed cheques, no disallowance was justified. The Tribunal distinguished between the provisions of Section 40A(3) in the assessment years 2004-05 and 2008-09, emphasizing that the law in force at the time of incurring the liability should govern. Case-Laws Income Tax Thu, 09 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214287