https://www.taxtmi.com/caselaws?id=278721 The Tribunal dismissed the Revenue's appeal and confirmed the CIT(A)'s decision to delete the disallowance under Section 40A(3) of the Income Tax Act. It was held that the payments made by the assessee were necessitated by business exigencies, genuine in nature, and fell within the exceptions provided under Rule 6DD. The Tribunal emphasized that the AO had applied the provision mechanically without considering the circumstances of the transactions. The Tribunal upheld the deletion of the disallowance, emphasizing the genuine nature of the transactions and the established identity of the payees. en-us Thu, 11 May 2017 00:00:00 +0530 Tue, 19 Feb 2019 07:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278721 The Tribunal dismissed the Revenue's appeal and confirmed the CIT(A)'s decision to delete the disallowance under Section 40A(3) of the Income Tax Act. It was held that the payments made by the assessee were necessitated by business exigencies, genuine in nature, and fell within the exceptions provided under Rule 6DD. The Tribunal emphasized that the AO had applied the provision mechanically without considering the circumstances of the transactions. The Tribunal upheld the deletion of the disallowance, emphasizing the genuine nature of the transactions and the established identity of the payees. Case-Laws Income Tax Thu, 11 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278721