https://www.taxtmi.com/caselaws?id=408555 The Tribunal allowed the appellant's appeal for statistical purposes, directing the Assessing Officer to verify the timing of purchases and cash payments, emphasizing the importance of providing a fair opportunity of hearing. The judgment focused on the disallowance under section 40A(3) of the Income Tax Act and stressed the need for thorough verification of factual aspects in cases involving cash payments exceeding Rs. 20,000 for business transactions. en-us Mon, 07 Jun 2021 00:00:00 +0530 Tue, 15 Jun 2021 07:50:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408555 The Tribunal allowed the appellant's appeal for statistical purposes, directing the Assessing Officer to verify the timing of purchases and cash payments, emphasizing the importance of providing a fair opportunity of hearing. The judgment focused on the disallowance under section 40A(3) of the Income Tax Act and stressed the need for thorough verification of factual aspects in cases involving cash payments exceeding Rs. 20,000 for business transactions. Case-Laws Income Tax Mon, 07 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408555