https://www.taxtmi.com/caselaws?id=273408 The Appellate Tribunal allowed the appeal of the assessee, ruling in favor of the assessee and deleting the disallowance made under section 40A(3) of the Income Tax Act. The Tribunal found the cash payments were genuine, identified, and made due to business exigency, thus determining that the provisions of section 40A(3) were not applicable. Consequently, the disallowance by the Assessing Officer was overturned, and no disallowance under section 40A(3) was deemed necessary for the assessment year 2008-09. en-us Tue, 11 Sep 2012 00:00:00 +0530 Sat, 23 Jun 2018 13:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273408 The Appellate Tribunal allowed the appeal of the assessee, ruling in favor of the assessee and deleting the disallowance made under section 40A(3) of the Income Tax Act. The Tribunal found the cash payments were genuine, identified, and made due to business exigency, thus determining that the provisions of section 40A(3) were not applicable. Consequently, the disallowance by the Assessing Officer was overturned, and no disallowance under section 40A(3) was deemed necessary for the assessment year 2008-09. Case-Laws Income Tax Tue, 11 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273408