https://www.taxtmi.com/caselaws?id=362564 The Tribunal allowed the appeal of the assessee, concluding that the disallowance of Rs. 1,54,97,974/- under Section 40A(3) was not justified. The payments made on a bank holiday fell under exceptions provided in Rule 6DD(j) and were genuine transactions for business expediency. The Tribunal found no reason for the disallowance and deleted the amount disallowed by the Assessing Officer and upheld by the CIT(A). en-us Wed, 27 Jun 2018 00:00:00 +0530 Thu, 28 Jun 2018 09:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362564 The Tribunal allowed the appeal of the assessee, concluding that the disallowance of Rs. 1,54,97,974/- under Section 40A(3) was not justified. The payments made on a bank holiday fell under exceptions provided in Rule 6DD(j) and were genuine transactions for business expediency. The Tribunal found no reason for the disallowance and deleted the amount disallowed by the Assessing Officer and upheld by the CIT(A). Case-Laws Income Tax Wed, 27 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362564