https://www.taxtmi.com/caselaws?id=246129 The Tribunal upheld the CIT(A)'s decision and dismissed the Revenue's appeal challenging the disallowance under Section 40A(3) for payments made to the Managing Director. The Tribunal found that the payments, whether for currency conversion fees or as advances for expenses, did not violate Section 40A(3) provisions as no actual expenditure had occurred, and the funds had not left the company's coffers until such expenditure took place. en-us Fri, 10 Jan 2014 00:00:00 +0530 Thu, 17 Apr 2014 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246129 The Tribunal upheld the CIT(A)'s decision and dismissed the Revenue's appeal challenging the disallowance under Section 40A(3) for payments made to the Managing Director. The Tribunal found that the payments, whether for currency conversion fees or as advances for expenses, did not violate Section 40A(3) provisions as no actual expenditure had occurred, and the funds had not left the company's coffers until such expenditure took place. Case-Laws Income Tax Fri, 10 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246129