https://www.taxtmi.com/caselaws?id=338374 The appeal was allowed as the delay in filing was condoned. The disallowance under Section 40A(3) for cash payments to vendors was overturned by the ITAT due to business exigencies and genuine transactions supported by vendor confirmations. The ITAT emphasized the need to consider business peculiarities and profit justification in such cases, highlighting the importance of assessing officers taking into account specific circumstances before making disallowances under tax provisions like Section 40A(3). en-us Mon, 26 Sep 2016 00:00:00 +0530 Thu, 02 Feb 2017 12:48:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338374 The appeal was allowed as the delay in filing was condoned. The disallowance under Section 40A(3) for cash payments to vendors was overturned by the ITAT due to business exigencies and genuine transactions supported by vendor confirmations. The ITAT emphasized the need to consider business peculiarities and profit justification in such cases, highlighting the importance of assessing officers taking into account specific circumstances before making disallowances under tax provisions like Section 40A(3). Case-Laws Income Tax Mon, 26 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338374