https://www.taxtmi.com/caselaws?id=428858 The Tribunal allowed the appeal of the assessee, overturning the disallowance under section 40A(3) of the Act. The Tribunal considered the genuine nature of the transaction, seller confirmation, and exceptions under Rule 6DD, ultimately ruling that no disallowance was warranted. The decision highlighted the applicability of Rule 6DD in exceptional circumstances justifying cash payments, supporting the assessee's arguments and deleting the disallowance. en-us Tue, 30 Aug 2022 00:00:00 +0530 Wed, 12 Oct 2022 10:02:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428858 The Tribunal allowed the appeal of the assessee, overturning the disallowance under section 40A(3) of the Act. The Tribunal considered the genuine nature of the transaction, seller confirmation, and exceptions under Rule 6DD, ultimately ruling that no disallowance was warranted. The decision highlighted the applicability of Rule 6DD in exceptional circumstances justifying cash payments, supporting the assessee's arguments and deleting the disallowance. Case-Laws Income Tax Tue, 30 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428858