https://www.taxtmi.com/caselaws?id=284142 The Tribunal set aside the CIT(A)'s order, allowing the assessee's appeal against the disallowance of Rs. 3,33,720 under section 40A(3) of the Act. It concluded that the disallowance was unjustified, considering the genuineness of transactions and business exigencies. The Tribunal emphasized a non-mechanical application of Rule 6DD, supporting the assessee's explanation. en-us Mon, 13 May 2019 00:00:00 +0530 Thu, 14 Nov 2024 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284142 The Tribunal set aside the CIT(A)'s order, allowing the assessee's appeal against the disallowance of Rs. 3,33,720 under section 40A(3) of the Act. It concluded that the disallowance was unjustified, considering the genuineness of transactions and business exigencies. The Tribunal emphasized a non-mechanical application of Rule 6DD, supporting the assessee's explanation. Case-Laws Income Tax Mon, 13 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284142