https://www.taxtmi.com/caselaws?id=429201 The Tribunal allowed the appeal of the assessee, ruling in favor of the assessee and deleting the disallowance under section 40A(3) of the Act. The Tribunal emphasized the genuine nature of the transactions, the necessity of cash payments due to specific circumstances, and alignment with established legal interpretations and precedents, including the Supreme Court's decision in Attar Singh Gurmukh Singh vs. ITO. The decision was based on the principles outlined in relevant legal provisions and previous judicial rulings, ultimately leading to the deletion of the disallowance under section 40A(3) of the Act. en-us Mon, 10 Oct 2022 00:00:00 +0530 Wed, 19 Oct 2022 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429201 The Tribunal allowed the appeal of the assessee, ruling in favor of the assessee and deleting the disallowance under section 40A(3) of the Act. The Tribunal emphasized the genuine nature of the transactions, the necessity of cash payments due to specific circumstances, and alignment with established legal interpretations and precedents, including the Supreme Court's decision in Attar Singh Gurmukh Singh vs. ITO. The decision was based on the principles outlined in relevant legal provisions and previous judicial rulings, ultimately leading to the deletion of the disallowance under section 40A(3) of the Act. Case-Laws Income Tax Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429201