https://www.taxtmi.com/caselaws?id=11398 The High Court affirmed the Tribunal's decision, holding that the disallowance under Section 40A(3) was incorrect. The court found that all payments were made by account payee cheques, meeting the requirements of Rule 6DD exceptions. Transactions were deemed genuine, complying with the legislative intent to prevent tax evasion. The judgment favored the assessee, emphasizing the importance of verifying transaction genuineness. The reference was disposed of with no costs. en-us Tue, 01 Jul 2003 00:00:00 +0530 Fri, 07 Aug 2009 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11398 The High Court affirmed the Tribunal's decision, holding that the disallowance under Section 40A(3) was incorrect. The court found that all payments were made by account payee cheques, meeting the requirements of Rule 6DD exceptions. Transactions were deemed genuine, complying with the legislative intent to prevent tax evasion. The judgment favored the assessee, emphasizing the importance of verifying transaction genuineness. The reference was disposed of with no costs. Case-Laws Income Tax Tue, 01 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11398