https://www.taxtmi.com/caselaws?id=349861 Cash deposited directly into the bank account of a statutory wholesale licensee under a government-controlled excise scheme was treated as a genuine, traceable payment made in the course of a regulated trade. The analysis held that section 40A(3) is aimed at curbing unaccounted cash dealings and tax evasion, but that payments made under a statutory mandate, including through an authorised intermediary, may fall within the liberal construction of Rule 6DD. On that basis, the disallowance was not sustainable because the payment was regarded as covered by the relevant exception and therefore not liable to addition. en-us Sat, 14 Oct 2017 00:00:00 +0530 Wed, 25 Oct 2017 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349861 Cash deposited directly into the bank account of a statutory wholesale licensee under a government-controlled excise scheme was treated as a genuine, traceable payment made in the course of a regulated trade. The analysis held that section 40A(3) is aimed at curbing unaccounted cash dealings and tax evasion, but that payments made under a statutory mandate, including through an authorised intermediary, may fall within the liberal construction of Rule 6DD. On that basis, the disallowance was not sustainable because the payment was regarded as covered by the relevant exception and therefore not liable to addition. Case-Laws Income Tax Sat, 14 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349861