https://www.taxtmi.com/caselaws?id=283006 Cash deposited directly into the wholesale supplier's bank account under the West Bengal excise framework was treated as a genuine payment mechanism, with the payee's identity established and the transaction made in compliance with the prescribed regulatory rules. Applying a purposive reading of the cash payment disallowance provision, the Tribunal noted that the rule is aimed at curbing bogus, unaccounted expenditure and tax evasion, not genuine regulated transactions. It also accepted that the payment fell within the protective scope of the relevant exception for payments made under legal tender and prescribed statutory arrangements. The disallowance was therefore deleted. en-us Fri, 02 Sep 2016 00:00:00 +0530 Tue, 03 Sep 2019 17:44:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283006 Cash deposited directly into the wholesale supplier's bank account under the West Bengal excise framework was treated as a genuine payment mechanism, with the payee's identity established and the transaction made in compliance with the prescribed regulatory rules. Applying a purposive reading of the cash payment disallowance provision, the Tribunal noted that the rule is aimed at curbing bogus, unaccounted expenditure and tax evasion, not genuine regulated transactions. It also accepted that the payment fell within the protective scope of the relevant exception for payments made under legal tender and prescribed statutory arrangements. The disallowance was therefore deleted. Case-Laws Income Tax Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283006