https://www.taxtmi.com/caselaws?id=362413 The Tribunal found that the assessee's cash transactions were genuine, supported by documentation, and made from disclosed sources. Emphasizing business expediency and lack of tax evasion intent, the Tribunal ruled in favor of the assessee, holding that disallowance under Section 40A(3) was unjustified. The appeal was allowed, overturning the Assessing Officer and Commissioner of Income Tax (Appeals) decisions. en-us Tue, 15 May 2018 00:00:00 +0530 Mon, 25 Jun 2018 20:35:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362413 The Tribunal found that the assessee's cash transactions were genuine, supported by documentation, and made from disclosed sources. Emphasizing business expediency and lack of tax evasion intent, the Tribunal ruled in favor of the assessee, holding that disallowance under Section 40A(3) was unjustified. The appeal was allowed, overturning the Assessing Officer and Commissioner of Income Tax (Appeals) decisions. Case-Laws Income Tax Tue, 15 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362413