https://www.taxtmi.com/caselaws?id=432453 The Tribunal allowed the appeal challenging the disallowance under section 40A(3) of the Income Tax Act for cash payments exceeding Rs. 20,000 to suppliers. The Tribunal directed a fresh verification by the assessing officer based on the affidavit filed by the assessee, noting discrepancies in the assessing officer's statements and emphasizing the need to verify business expediency for cash payments. The conversion of the case from limited to complete scrutiny and the alleged violation of government instructions were not extensively addressed, with the focus primarily on the justification of cash payment disallowances and the importance of verifying business expediency. en-us Mon, 18 Apr 2022 00:00:00 +0530 Thu, 05 Jan 2023 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432453 The Tribunal allowed the appeal challenging the disallowance under section 40A(3) of the Income Tax Act for cash payments exceeding Rs. 20,000 to suppliers. The Tribunal directed a fresh verification by the assessing officer based on the affidavit filed by the assessee, noting discrepancies in the assessing officer's statements and emphasizing the need to verify business expediency for cash payments. The conversion of the case from limited to complete scrutiny and the alleged violation of government instructions were not extensively addressed, with the focus primarily on the justification of cash payment disallowances and the importance of verifying business expediency. Case-Laws Income Tax Mon, 18 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432453