https://www.taxtmi.com/caselaws?id=379803 The appeal was allowed, and the disallowance under Section 40A(3) of the Income Tax Act, 1961 was deleted by the Tribunal. The Tribunal found that the cash payments made did not exceed the limit prescribed by law, and the genuineness of the transactions was not in dispute. The Tribunal concluded that the disallowance was factually and legally incorrect, based on the evidence presented by the assessee and the lack of third-party verification by the AO. en-us Fri, 26 Apr 2019 00:00:00 +0530 Tue, 07 May 2019 09:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379803 The appeal was allowed, and the disallowance under Section 40A(3) of the Income Tax Act, 1961 was deleted by the Tribunal. The Tribunal found that the cash payments made did not exceed the limit prescribed by law, and the genuineness of the transactions was not in dispute. The Tribunal concluded that the disallowance was factually and legally incorrect, based on the evidence presented by the assessee and the lack of third-party verification by the AO. Case-Laws Income Tax Fri, 26 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379803