https://www.taxtmi.com/caselaws?id=388261 The Tribunal allowed the appeal for statistical purposes, directing the Commissioner of Income Tax (Appeals) to re-examine the disallowance under section 40A(3) concerning cash payments exceeding Rs. 20,000. The Tribunal emphasized that while section 40A(3) typically applies to business expenses, it can extend to income from other sources under exceptional circumstances, necessitating a practical assessment of cash transactions. The jurisdictional validity of the assessment order under section 143(3) and the charging of interest under sections 234B/C were not extensively addressed in the judgment. en-us Fri, 25 Oct 2019 00:00:00 +0530 Tue, 12 Nov 2019 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388261 The Tribunal allowed the appeal for statistical purposes, directing the Commissioner of Income Tax (Appeals) to re-examine the disallowance under section 40A(3) concerning cash payments exceeding Rs. 20,000. The Tribunal emphasized that while section 40A(3) typically applies to business expenses, it can extend to income from other sources under exceptional circumstances, necessitating a practical assessment of cash transactions. The jurisdictional validity of the assessment order under section 143(3) and the charging of interest under sections 234B/C were not extensively addressed in the judgment. Case-Laws Income Tax Fri, 25 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388261