https://www.taxtmi.com/caselaws?id=383232 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 9,00,000 under Section 40A(3). The Tribunal agreed with the CIT(A)'s findings that the payment was made on 07-03-2009 under exceptional circumstances and was genuine, thus not attracting the disallowance under Section 40A(3). The Tribunal also validated the revised assessment order passed under Section 263, restricted to the disallowance issue. The judgment emphasized the importance of examining the genuineness of transactions and the applicability of exceptions under Rule 6DD. en-us Wed, 12 Jun 2019 00:00:00 +0530 Thu, 18 Jul 2019 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383232 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to delete the addition of Rs. 9,00,000 under Section 40A(3). The Tribunal agreed with the CIT(A)'s findings that the payment was made on 07-03-2009 under exceptional circumstances and was genuine, thus not attracting the disallowance under Section 40A(3). The Tribunal also validated the revised assessment order passed under Section 263, restricted to the disallowance issue. The judgment emphasized the importance of examining the genuineness of transactions and the applicability of exceptions under Rule 6DD. Case-Laws Income Tax Wed, 12 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383232