https://www.taxtmi.com/caselaws?id=294426 The Tribunal ruled in favor of the appellant, finding the disallowance of purchases from specific enterprises under section 69 of the Income-tax Act, 1961 unsustainable. The appellant successfully demonstrated the genuineness of transactions and payments, leading to the deletion of the disallowance. The Tribunal emphasized that mechanically invoking section 40A(3) without questioning the genuineness of payments and parties' identities was impermissible, citing relevant CBDT Circulars and judicial precedents. The decision was based on the acceptance of payments made through self-cheque, considering the genuineness of transactions and parties' identities. en-us Tue, 01 Oct 2019 00:00:00 +0530 Wed, 14 Apr 2021 08:45:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294426 The Tribunal ruled in favor of the appellant, finding the disallowance of purchases from specific enterprises under section 69 of the Income-tax Act, 1961 unsustainable. The appellant successfully demonstrated the genuineness of transactions and payments, leading to the deletion of the disallowance. The Tribunal emphasized that mechanically invoking section 40A(3) without questioning the genuineness of payments and parties' identities was impermissible, citing relevant CBDT Circulars and judicial precedents. The decision was based on the acceptance of payments made through self-cheque, considering the genuineness of transactions and parties' identities. Case-Laws Income Tax Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294426