https://www.taxtmi.com/caselaws?id=391355 The Tribunal partly allowed the appeal, setting aside the disallowances related to royalty and quarry expenses under sec. 37(1) and sec. 40A(3) of the Income Tax Act. The disallowance of royalty payments was deleted due to payments made through demand drafts or directly to the Government. Regarding quarry expenses, 90% were compliant with sec. 40A(3) as banking facilities were lacking at the site. The Tribunal modified the CIT(A)'s decision, disallowing 5% of expenses exceeding &8377; 20,000 paid in cash. The appeal was partially allowed based on compliance with provisions and specific circumstances. en-us Thu, 23 Jan 2020 00:00:00 +0530 Sat, 25 Jan 2020 18:15:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391355 The Tribunal partly allowed the appeal, setting aside the disallowances related to royalty and quarry expenses under sec. 37(1) and sec. 40A(3) of the Income Tax Act. The disallowance of royalty payments was deleted due to payments made through demand drafts or directly to the Government. Regarding quarry expenses, 90% were compliant with sec. 40A(3) as banking facilities were lacking at the site. The Tribunal modified the CIT(A)'s decision, disallowing 5% of expenses exceeding &8377; 20,000 paid in cash. The appeal was partially allowed based on compliance with provisions and specific circumstances. Case-Laws Income Tax Thu, 23 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391355