https://www.taxtmi.com/caselaws?id=332734 The Tribunal allowed the assessee's appeals, overturning the lower authorities' decisions. It held that the cash payments made were genuine and essential for business operations, thus not warranting disallowance under Section 40A(3) of the Income Tax Act, 1961. The Tribunal emphasized the importance of preventing tax evasion while recognizing genuine transactions. The final order was pronounced on 12/08/2016. en-us Fri, 12 Aug 2016 00:00:00 +0530 Sat, 24 Sep 2016 09:22:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332734 The Tribunal allowed the assessee's appeals, overturning the lower authorities' decisions. It held that the cash payments made were genuine and essential for business operations, thus not warranting disallowance under Section 40A(3) of the Income Tax Act, 1961. The Tribunal emphasized the importance of preventing tax evasion while recognizing genuine transactions. The final order was pronounced on 12/08/2016. Case-Laws Income Tax Fri, 12 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332734