https://www.taxtmi.com/caselaws?id=284119 The court found that the assessee's cash payment to a partner of a firm exceeded the limit set by the Income-tax Act, 1961. Despite a provision allowing cash payments in exceptional circumstances, the assessee failed to establish valid reasons for the cash payment. As the payee did not demand cash and no exceptional circumstances were proven, all statutory authorities agreed that the payment was not justified. Consequently, the court ruled in favor of the revenue, upholding the disallowance under section 40A(3) of the Act due to the assessee's failure to meet the specified criteria. en-us Mon, 12 Mar 2007 00:00:00 +0530 Fri, 01 Nov 2019 18:24:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284119 The court found that the assessee's cash payment to a partner of a firm exceeded the limit set by the Income-tax Act, 1961. Despite a provision allowing cash payments in exceptional circumstances, the assessee failed to establish valid reasons for the cash payment. As the payee did not demand cash and no exceptional circumstances were proven, all statutory authorities agreed that the payment was not justified. Consequently, the court ruled in favor of the revenue, upholding the disallowance under section 40A(3) of the Act due to the assessee's failure to meet the specified criteria. Case-Laws Income Tax Mon, 12 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284119