https://www.taxtmi.com/caselaws?id=22490 The Tribunal disallowed certain cash payments exceeding Rs. 2,500 made by the assessee to specific entities under section 40A(3) of the Income-tax Act, 1961. The High Court upheld this decision, emphasizing the factual consistency across authorities. Additionally, a cash payment of Rs. 25,000 to Agra Steel Traders was deemed an expenditure falling under section 40A(3), despite being made before goods delivery. The judgment clarified the application of section 40A(3) in determining the deductibility of cash payments for income tax purposes based on transaction nature and payment modes. en-us Wed, 09 Jan 1991 00:00:00 +0530 Thu, 10 Dec 2009 16:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22490 The Tribunal disallowed certain cash payments exceeding Rs. 2,500 made by the assessee to specific entities under section 40A(3) of the Income-tax Act, 1961. The High Court upheld this decision, emphasizing the factual consistency across authorities. Additionally, a cash payment of Rs. 25,000 to Agra Steel Traders was deemed an expenditure falling under section 40A(3), despite being made before goods delivery. The judgment clarified the application of section 40A(3) in determining the deductibility of cash payments for income tax purposes based on transaction nature and payment modes. Case-Laws Income Tax Wed, 09 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22490