https://www.taxtmi.com/caselaws?id=386460 The Tribunal allowed the appeal, deleting all additions made by the AO. It emphasized the importance of examining expenses item-wise and the need to reject books of accounts before making ad hoc disallowances. The decision highlighted that genuine business transactions should not be disallowed under Section 40A(3) if made due to bona fide business exigencies. en-us Fri, 02 Aug 2019 00:00:00 +0530 Sat, 28 Sep 2019 08:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386460 The Tribunal allowed the appeal, deleting all additions made by the AO. It emphasized the importance of examining expenses item-wise and the need to reject books of accounts before making ad hoc disallowances. The decision highlighted that genuine business transactions should not be disallowed under Section 40A(3) if made due to bona fide business exigencies. Case-Laws Income Tax Fri, 02 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386460