https://www.taxtmi.com/highlights?id=68531 Addition u/s 40A(3) - cash payment in excess of prescribed limit - Genuineness or otherwise of payment is not a criteria to exclude cash payment in excess of prescribed limit from the provisions of Sec.40A(3) of the Act. - The assessee had also failed to make out a case of business exigency in making cash payment, because, it was the claim of the assessee that cash has been directly credited into bank accounts of sub-contractors and said bank accounts are maintained in one bank - AT en-us Wed, 01 Mar 2023 12:03:58 +0530 Wed, 01 Mar 2023 12:03:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68531 Addition u/s 40A(3) - cash payment in excess of prescribed limit - Genuineness or otherwise of payment is not a criteria to exclude cash payment in excess of prescribed limit from the provisions of Sec.40A(3) of the Act. - The assessee had also failed to make out a case of business exigency in making cash payment, because, it was the claim of the assessee that cash has been directly credited into bank accounts of sub-contractors and said bank accounts are maintained in one bank - AT Highlights Income Tax Wed, 01 Mar 2023 12:03:58 +0530 https://www.taxtmi.com/highlights?id=68531