https://www.taxtmi.com/caselaws?id=416713 The appeal was partly allowed by the ITAT, setting aside the CIT(A)'s order on cash payments disallowance under section 40A(3) and deciding in favor of the assessee. The ITAT found the appellant's circumstances justified the cash payments, falling under the exemption in Rule 6DD of section 40A(3), deeming the disallowance legally unsustainable. However, the ITAT upheld the CIT(A)'s decision on interest paid to NBFCs, finding no issues with the order. en-us Mon, 03 Jan 2022 00:00:00 +0530 Thu, 06 Jan 2022 07:12:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416713 The appeal was partly allowed by the ITAT, setting aside the CIT(A)'s order on cash payments disallowance under section 40A(3) and deciding in favor of the assessee. The ITAT found the appellant's circumstances justified the cash payments, falling under the exemption in Rule 6DD of section 40A(3), deeming the disallowance legally unsustainable. However, the ITAT upheld the CIT(A)'s decision on interest paid to NBFCs, finding no issues with the order. Case-Laws Income Tax Mon, 03 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416713