https://www.taxtmi.com/caselaws?id=11849 Cash payments by a sub-broker for share transactions were treated as falling within the exception to disallowance under section 40A(3) read with rule 6DD(j) because the cash book recorded the payments, the counterparties were identifiable, and confirmations were on record. The transactions were not disputed and their genuineness was not challenged, so the material supported the assessee's claim that the payments were made due to the peculiar nature of the business. The Tribunal's view that no evidence existed to invoke the exception was contrary to the record, and the disallowance under section 40A(3) could not be sustained. en-us Mon, 05 May 2003 00:00:00 +0530 Sun, 02 May 2010 23:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11849 Cash payments by a sub-broker for share transactions were treated as falling within the exception to disallowance under section 40A(3) read with rule 6DD(j) because the cash book recorded the payments, the counterparties were identifiable, and confirmations were on record. The transactions were not disputed and their genuineness was not challenged, so the material supported the assessee's claim that the payments were made due to the peculiar nature of the business. The Tribunal's view that no evidence existed to invoke the exception was contrary to the record, and the disallowance under section 40A(3) could not be sustained. Case-Laws Income Tax Mon, 05 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11849