https://www.taxtmi.com/caselaws?id=254591 The High Court interpreted Section 40A(3) of the Income Tax Act, focusing on aggregating cash payments and the meaning of "sum." It considered the Himachal Pradesh High Court decision and the 2009 amendment, emphasizing commercial reasons for cash payments. The court upheld the Tribunal's decision, dismissing the Revenue's appeal for the assessment year 2008-09, based on the respondent's justifications and commercial expediency for cash transactions. en-us Mon, 22 Dec 2014 00:00:00 +0530 Fri, 26 Dec 2014 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254591 The High Court interpreted Section 40A(3) of the Income Tax Act, focusing on aggregating cash payments and the meaning of "sum." It considered the Himachal Pradesh High Court decision and the 2009 amendment, emphasizing commercial reasons for cash payments. The court upheld the Tribunal's decision, dismissing the Revenue's appeal for the assessment year 2008-09, based on the respondent's justifications and commercial expediency for cash transactions. Case-Laws Income Tax Mon, 22 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254591