https://www.taxtmi.com/caselaws?id=253230 The Tribunal condoned the delay in filing appeals due to a genuine misunderstanding, admitted the appeals for adjudication, and upheld the Assessing Officer's order overruling the CIT's jurisdiction under section 263. The Tribunal found the CIT's application of section 40A(3) to cash payments unjustified, as it included amounts not subject to disallowance. The Tribunal clarified that advances are not covered under section 40A(3) and concluded that the CIT's direction to disallow the entire amount was erroneous. The appeals were allowed in favor of the assessees. en-us Fri, 14 Nov 2014 00:00:00 +0530 Wed, 19 Nov 2014 09:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253230 The Tribunal condoned the delay in filing appeals due to a genuine misunderstanding, admitted the appeals for adjudication, and upheld the Assessing Officer's order overruling the CIT's jurisdiction under section 263. The Tribunal found the CIT's application of section 40A(3) to cash payments unjustified, as it included amounts not subject to disallowance. The Tribunal clarified that advances are not covered under section 40A(3) and concluded that the CIT's direction to disallow the entire amount was erroneous. The appeals were allowed in favor of the assessees. Case-Laws Income Tax Fri, 14 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253230