https://www.taxtmi.com/caselaws?id=389553 Cash payments for maize purchases were held to fall within the Rule 6DD(e) exception where the record showed agricultural produce transactions supported by bills, seller details, village particulars and market fee evidence; the absence of personal production of the sellers was not treated as fatal, so the Section 40A(3) disallowance was deleted. Interest disallowance under Section 36(1)(iii) depended on the actual nexus between borrowed funds and speculative or ordinary business use, and because the accounts and fund flow were not fully examined, the matter was sent back for fresh factual verification. en-us Wed, 28 Aug 2019 00:00:00 +0530 Wed, 11 Dec 2019 13:18:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389553 Cash payments for maize purchases were held to fall within the Rule 6DD(e) exception where the record showed agricultural produce transactions supported by bills, seller details, village particulars and market fee evidence; the absence of personal production of the sellers was not treated as fatal, so the Section 40A(3) disallowance was deleted. Interest disallowance under Section 36(1)(iii) depended on the actual nexus between borrowed funds and speculative or ordinary business use, and because the accounts and fund flow were not fully examined, the matter was sent back for fresh factual verification. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389553