https://www.taxtmi.com/caselaws?id=394392 The Tribunal allowed the appeal, ruling that the disallowance of ? 81,47,100 under section 40A(3) of the Income Tax Act was not warranted. The Tribunal found the payments genuine, necessary for business operations, and made to identifiable payees. It held that the terms of section 40A(3) are not absolute and genuine transactions are not excluded from its scope, citing relevant judicial pronouncements. The appeal was allowed in favor of the assessee, and the disallowance was deleted. en-us Mon, 03 Feb 2020 00:00:00 +0530 Fri, 10 Apr 2020 13:50:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394392 The Tribunal allowed the appeal, ruling that the disallowance of ? 81,47,100 under section 40A(3) of the Income Tax Act was not warranted. The Tribunal found the payments genuine, necessary for business operations, and made to identifiable payees. It held that the terms of section 40A(3) are not absolute and genuine transactions are not excluded from its scope, citing relevant judicial pronouncements. The appeal was allowed in favor of the assessee, and the disallowance was deleted. Case-Laws Income Tax Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394392