https://www.taxtmi.com/caselaws?id=328708 Cash payments made for purchase of scrap to a government-controlled corporation treated as a State instrumentality were analysed under section 40A(3) and Rule 6DD(b). Applying the tests of State ownership, deep and pervasive control, public function, and Article 12 status, the Tribunal noted that the payments were genuine and made in the ordinary course of business for auctioned scrap. On that basis, the cash-payment restriction was held inapplicable and the Rule 6DD(b) exception protected the assessee, resulting in deletion of the disallowance. en-us Mon, 29 Feb 2016 00:00:00 +0530 Sat, 11 Jun 2016 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328708 Cash payments made for purchase of scrap to a government-controlled corporation treated as a State instrumentality were analysed under section 40A(3) and Rule 6DD(b). Applying the tests of State ownership, deep and pervasive control, public function, and Article 12 status, the Tribunal noted that the payments were genuine and made in the ordinary course of business for auctioned scrap. On that basis, the cash-payment restriction was held inapplicable and the Rule 6DD(b) exception protected the assessee, resulting in deletion of the disallowance. Case-Laws Income Tax Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328708