https://www.taxtmi.com/caselaws?id=415329 Cash payments to group concerns for purchases were treated as outside the disallowance under section 40A(3) where the transactions were genuine, fully accounted, and made to identified payees in the course of business. The text explains that the purchases, pricing, receipt of funds, and supplier identity were not in dispute, and that there was no indication of unaccounted money or tax evasion. Section 40A(3) is described as an anti-black-money provision, but its rigour was held inapplicable to bona fide transactions supported by business expediency. Rule 6DD was also treated as non-exhaustive, allowing relief on settled principles. en-us Thu, 26 Aug 2021 00:00:00 +0530 Thu, 02 Dec 2021 19:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415329 Cash payments to group concerns for purchases were treated as outside the disallowance under section 40A(3) where the transactions were genuine, fully accounted, and made to identified payees in the course of business. The text explains that the purchases, pricing, receipt of funds, and supplier identity were not in dispute, and that there was no indication of unaccounted money or tax evasion. Section 40A(3) is described as an anti-black-money provision, but its rigour was held inapplicable to bona fide transactions supported by business expediency. Rule 6DD was also treated as non-exhaustive, allowing relief on settled principles. Case-Laws Income Tax Thu, 26 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415329