https://www.taxtmi.com/caselaws?id=335016 The Tribunal found that the disallowance under section 40A(3) of the Income-tax Act was not justified as exemptions under rule 6DD(b) and rule 6DD(k) applied. The genuineness of transactions was acknowledged, and the payments were made directly into the supplier's bank account, aligning with the legislative intent to prevent tax evasion. Consequently, the Tribunal allowed the appeals, deleting the disallowance for all the relevant assessment years. en-us Fri, 05 Aug 2016 00:00:00 +0530 Fri, 25 Nov 2016 08:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335016 The Tribunal found that the disallowance under section 40A(3) of the Income-tax Act was not justified as exemptions under rule 6DD(b) and rule 6DD(k) applied. The genuineness of transactions was acknowledged, and the payments were made directly into the supplier's bank account, aligning with the legislative intent to prevent tax evasion. Consequently, the Tribunal allowed the appeals, deleting the disallowance for all the relevant assessment years. Case-Laws Income Tax Fri, 05 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335016