https://www.taxtmi.com/caselaws?id=411671 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of Rs. 1,72,80,862/- under Section 40A(3) of the IT Act. It found that the cash payments were justified due to business expediency and practical difficulties faced by the assessee, emphasizing the genuine nature of the transactions. The Tribunal highlighted the need to consider practical challenges in applying tax provisions, ultimately dismissing the Revenue's appeal. en-us Mon, 23 Aug 2021 00:00:00 +0530 Wed, 01 Sep 2021 08:57:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411671 The Tribunal upheld the CIT(A)'s decision to delete the disallowance of Rs. 1,72,80,862/- under Section 40A(3) of the IT Act. It found that the cash payments were justified due to business expediency and practical difficulties faced by the assessee, emphasizing the genuine nature of the transactions. The Tribunal highlighted the need to consider practical challenges in applying tax provisions, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Mon, 23 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411671