https://www.taxtmi.com/caselaws?id=431569 The Tribunal allowed the assessee's appeal regarding the disallowance of expenses incurred in cash under section 40A(3) of the Income Tax Act. The Tribunal held that the payments made through an agent to the sellers, who required cash payments due to lack of banking facilities, satisfied the requirements of Rule 6DD. The genuineness of the transactions was established, leading to the deletion of the disallowance of Rs.37,01,314/-, emphasizing the practical business circumstances faced by the assessee. en-us Fri, 02 Dec 2022 00:00:00 +0530 Tue, 18 Apr 2023 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431569 The Tribunal allowed the assessee's appeal regarding the disallowance of expenses incurred in cash under section 40A(3) of the Income Tax Act. The Tribunal held that the payments made through an agent to the sellers, who required cash payments due to lack of banking facilities, satisfied the requirements of Rule 6DD. The genuineness of the transactions was established, leading to the deletion of the disallowance of Rs.37,01,314/-, emphasizing the practical business circumstances faced by the assessee. Case-Laws Income Tax Fri, 02 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431569