https://www.taxtmi.com/caselaws?id=362446 The Tribunal dismissed the assessee's appeal and confirmed the disallowance under Section 40A(3) of the Income Tax Act, 1961. The Tribunal found that the assessee failed to justify the cash payments exceeding the prescribed limit and did not establish any exceptional circumstances necessitating such payments. The Tribunal emphasized the importance of complying with the statutory provisions and the need for the assessee to demonstrate valid reasons for deviating from the cash payment restrictions. en-us Wed, 20 Jun 2018 00:00:00 +0530 Tue, 26 Jun 2018 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362446 The Tribunal dismissed the assessee's appeal and confirmed the disallowance under Section 40A(3) of the Income Tax Act, 1961. The Tribunal found that the assessee failed to justify the cash payments exceeding the prescribed limit and did not establish any exceptional circumstances necessitating such payments. The Tribunal emphasized the importance of complying with the statutory provisions and the need for the assessee to demonstrate valid reasons for deviating from the cash payment restrictions. Case-Laws Income Tax Wed, 20 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362446