https://www.taxtmi.com/caselaws?id=215057 The High Court ruled in favor of the Revenue, setting aside the Tribunal's decision and allowing the appeals. The Court emphasized that cash payments exceeding Rs.10,000 are subject to disallowance under Section 40A(3) of the Income Tax Act unless exceptional circumstances under Rule 6DD are proven. Merely depositing cash into the payee's bank account does not exempt the payment from scrutiny. The judgment stressed the necessity of demonstrating genuine reasons for cash payments to avoid disallowance under the Income Tax Act. en-us Fri, 29 Jun 2012 00:00:00 +0530 Sat, 21 Jul 2012 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215057 The High Court ruled in favor of the Revenue, setting aside the Tribunal's decision and allowing the appeals. The Court emphasized that cash payments exceeding Rs.10,000 are subject to disallowance under Section 40A(3) of the Income Tax Act unless exceptional circumstances under Rule 6DD are proven. Merely depositing cash into the payee's bank account does not exempt the payment from scrutiny. The judgment stressed the necessity of demonstrating genuine reasons for cash payments to avoid disallowance under the Income Tax Act. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215057