https://www.taxtmi.com/caselaws?id=372045 The Appellate Tribunal ITAT Ahmedabad allowed the appeal, reversing the disallowance under section 40A(3) of the Income Tax Act, 1961. The Tribunal emphasized that if the genuineness of the transaction is not in doubt, disallowance cannot be made under section 40A(3). The Tribunal directed the Assessing Officer to delete the addition, highlighting the importance of considering business expediencies in such cases. en-us Tue, 18 Sep 2018 00:00:00 +0530 Mon, 17 Dec 2018 06:38:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372045 The Appellate Tribunal ITAT Ahmedabad allowed the appeal, reversing the disallowance under section 40A(3) of the Income Tax Act, 1961. The Tribunal emphasized that if the genuineness of the transaction is not in doubt, disallowance cannot be made under section 40A(3). The Tribunal directed the Assessing Officer to delete the addition, highlighting the importance of considering business expediencies in such cases. Case-Laws Income Tax Tue, 18 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372045