https://www.taxtmi.com/caselaws?id=179794 The Tribunal upheld the CIT(A)'s decision to disallow 20% of total cash purchases under section 40A(3) of the Income Tax Act, amounting to Rs. 17,42,815. Despite the assessee's arguments regarding business exigencies and reliance on previous cases, the Tribunal emphasized the strict application of the law, noting the absence of exceptions under Rule 6DD for the relevant assessment year. The appeal was ultimately dismissed, affirming the disallowance of cash purchases exceeding Rs. 20,000. en-us Thu, 28 Jul 2011 00:00:00 +0530 Mon, 03 Apr 2023 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179794 The Tribunal upheld the CIT(A)'s decision to disallow 20% of total cash purchases under section 40A(3) of the Income Tax Act, amounting to Rs. 17,42,815. Despite the assessee's arguments regarding business exigencies and reliance on previous cases, the Tribunal emphasized the strict application of the law, noting the absence of exceptions under Rule 6DD for the relevant assessment year. The appeal was ultimately dismissed, affirming the disallowance of cash purchases exceeding Rs. 20,000. Case-Laws Income Tax Thu, 28 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179794