https://www.taxtmi.com/caselaws?id=186020 The appellate, an assessee, sought exemption of payments made towards transportation of granites under Section 40A(3) of the Income Tax Act for the financial year 2004-05. The court concluded that deduction should not be allowed only on the amount exceeding Rs. 20,000 not made by crossed cheque or bank draft. Therefore, the assessee was entitled to seek deduction up to Rs. 20,000, and on the excess amount paid, a deduction of up to 80% was permissible. The appeal was allowed as the Tribunal's view was deemed incorrect in law. en-us Fri, 06 Jan 2012 00:00:00 +0530 Mon, 05 Sep 2016 18:15:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186020 The appellate, an assessee, sought exemption of payments made towards transportation of granites under Section 40A(3) of the Income Tax Act for the financial year 2004-05. The court concluded that deduction should not be allowed only on the amount exceeding Rs. 20,000 not made by crossed cheque or bank draft. Therefore, the assessee was entitled to seek deduction up to Rs. 20,000, and on the excess amount paid, a deduction of up to 80% was permissible. The appeal was allowed as the Tribunal's view was deemed incorrect in law. Case-Laws Income Tax Fri, 06 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186020