https://www.taxtmi.com/caselaws?id=262652 The Court ruled in favor of the appellant/assessee on both issues. The disallowance of deductions under Section 40A(3) for cash payments exceeding Rs. 20,000 was set aside due to valid reasons for the payments establishing business expediency. Additionally, the addition to income due to non-charging of interest was overturned as the appellant had sufficient interest-free funds to cover the advances. The appeal was allowed with no order as to costs, and the Court left open the examination of a discrepancy in Rule 6DD for potential further proceedings. en-us Thu, 16 Jul 2015 00:00:00 +0530 Fri, 27 Mar 2026 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262652 The Court ruled in favor of the appellant/assessee on both issues. The disallowance of deductions under Section 40A(3) for cash payments exceeding Rs. 20,000 was set aside due to valid reasons for the payments establishing business expediency. Additionally, the addition to income due to non-charging of interest was overturned as the appellant had sufficient interest-free funds to cover the advances. The appeal was allowed with no order as to costs, and the Court left open the examination of a discrepancy in Rule 6DD for potential further proceedings. Case-Laws Income Tax Thu, 16 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262652