https://www.taxtmi.com/caselaws?id=434646 The appellate tribunal upheld the disallowance of cash payments exceeding the prescribed limit under Sec.40A(3) of the Income Tax Act. The tribunal found that the assessee failed to prove that the payments were within the exceptions provided under rule 6DD of the Income Tax Rules, 1962, or establish a valid case of business exigency for making cash payments to subcontractors. Consequently, the appeal was dismissed, affirming the lower authorities' decision to disallow the cash payments. en-us Wed, 19 Oct 2022 00:00:00 +0530 Wed, 01 Mar 2023 08:18:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434646 The appellate tribunal upheld the disallowance of cash payments exceeding the prescribed limit under Sec.40A(3) of the Income Tax Act. The tribunal found that the assessee failed to prove that the payments were within the exceptions provided under rule 6DD of the Income Tax Rules, 1962, or establish a valid case of business exigency for making cash payments to subcontractors. Consequently, the appeal was dismissed, affirming the lower authorities' decision to disallow the cash payments. Case-Laws Income Tax Wed, 19 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434646