https://www.taxtmi.com/caselaws?id=400003 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the Assessing Officer for cash purchases allegedly violating Section 40A(3) of the Income-tax Act. The genuineness of the transactions was not disputed, and the Tribunal acknowledged the practical difficulties faced by the assessee in rural areas. The Tribunal remanded the issue back to the AO for verification of the genuineness of the cash payments to M/s. Supreme Industries, directing not to disallow the expenditure if found genuine. The appeal of the revenue was allowed for statistical purposes. en-us Wed, 09 Sep 2020 00:00:00 +0530 Sat, 24 Oct 2020 19:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400003 The Tribunal upheld the CIT(A)'s decision to delete the addition made by the Assessing Officer for cash purchases allegedly violating Section 40A(3) of the Income-tax Act. The genuineness of the transactions was not disputed, and the Tribunal acknowledged the practical difficulties faced by the assessee in rural areas. The Tribunal remanded the issue back to the AO for verification of the genuineness of the cash payments to M/s. Supreme Industries, directing not to disallow the expenditure if found genuine. The appeal of the revenue was allowed for statistical purposes. Case-Laws Income Tax Wed, 09 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400003