https://www.taxtmi.com/caselaws?id=281924 The Tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision to add cash payments for immovable properties under section 40A(3) of the Income Tax Act. Relying on a previous High Court ruling, the Tribunal found the cash payments justified by business exigency, contrary to the CIT(A)'s view. Consequently, the Tribunal deleted the addition, ruling in favor of the assessee on 20/05/2016. en-us Fri, 20 May 2016 00:00:00 +0530 Sat, 13 Jul 2019 07:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281924 The Tribunal allowed the assessee's appeal, overturning the CIT(A)'s decision to add cash payments for immovable properties under section 40A(3) of the Income Tax Act. Relying on a previous High Court ruling, the Tribunal found the cash payments justified by business exigency, contrary to the CIT(A)'s view. Consequently, the Tribunal deleted the addition, ruling in favor of the assessee on 20/05/2016. Case-Laws Income Tax Fri, 20 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281924