https://www.taxtmi.com/caselaws?id=290493 The Tribunal upheld the disallowances under Section 40A(3) of the Income Tax Act for cash payments made by M/s. Lena Talkies and M/s. Vadiganathan Talkies for purchasing film rights. The Tribunal rejected the argument of business expediency as justification for cash payments, emphasizing the lack of exceptional circumstances. Additionally, the Tribunal found that the assessees failed to prove the applicability of Rule 6DD exemptions. As a result, the appeals of the assessees were dismissed. en-us Thu, 25 Apr 2019 00:00:00 +0530 Thu, 01 Oct 2020 11:03:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290493 The Tribunal upheld the disallowances under Section 40A(3) of the Income Tax Act for cash payments made by M/s. Lena Talkies and M/s. Vadiganathan Talkies for purchasing film rights. The Tribunal rejected the argument of business expediency as justification for cash payments, emphasizing the lack of exceptional circumstances. Additionally, the Tribunal found that the assessees failed to prove the applicability of Rule 6DD exemptions. As a result, the appeals of the assessees were dismissed. Case-Laws Income Tax Thu, 25 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290493