https://www.taxtmi.com/caselaws?id=365286 The High Court dismissed the Revenue's appeal, upholding the decision to delete the disallowance under Section 40A(3) of the Income Tax Act. The Court emphasized the applicability of Rule 6DD(e)(i) for cash payments exceeding Rs. 20,000 for agricultural produces, supporting the assessee's position. The Court found that the A.O. incorrectly disallowed the payments without rejecting the Books of Accounts, affirming the CIT(A) and ITAT's decision. Consequently, the Court concluded that no substantial question of law arose, leading to the dismissal of the Revenue's appeal. en-us Mon, 02 Jul 2018 00:00:00 +0530 Tue, 14 Aug 2018 07:44:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365286 The High Court dismissed the Revenue's appeal, upholding the decision to delete the disallowance under Section 40A(3) of the Income Tax Act. The Court emphasized the applicability of Rule 6DD(e)(i) for cash payments exceeding Rs. 20,000 for agricultural produces, supporting the assessee's position. The Court found that the A.O. incorrectly disallowed the payments without rejecting the Books of Accounts, affirming the CIT(A) and ITAT's decision. Consequently, the Court concluded that no substantial question of law arose, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Mon, 02 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365286