https://www.taxtmi.com/caselaws?id=273316 The Tribunal upheld the appellant's appeal against the tax liability imposed under Section 40A(3) of the Income Tax Act for cash payments exceeding the prescribed limit. The Commissioner Income Tax (Appeals) deemed the payments genuine, emphasizing the purpose of preventing tax evasion. The Tribunal reiterated the genuineness of payments and the necessity of cash transactions due to business compulsion, citing Rule 6DD(g) & (j). The Tribunal's decision regarding cash payments above Rs. 20,000 was upheld, leading to the dismissal of the appeal for lacking merit. en-us Tue, 01 Mar 2016 00:00:00 +0530 Sat, 16 Jun 2018 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273316 The Tribunal upheld the appellant's appeal against the tax liability imposed under Section 40A(3) of the Income Tax Act for cash payments exceeding the prescribed limit. The Commissioner Income Tax (Appeals) deemed the payments genuine, emphasizing the purpose of preventing tax evasion. The Tribunal reiterated the genuineness of payments and the necessity of cash transactions due to business compulsion, citing Rule 6DD(g) & (j). The Tribunal's decision regarding cash payments above Rs. 20,000 was upheld, leading to the dismissal of the appeal for lacking merit. Case-Laws Income Tax Tue, 01 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273316