https://www.taxtmi.com/caselaws?id=438190 The Tribunal upheld the disallowance of a cash payment of Rs. 10,00,000 under section 40A(3) of the Income Tax Act, 1961, as the assessee failed to prove that the expenditure was solely for business purposes. The Commissioner of Income Tax (Appeals) affirmed this decision, stating the payment did not qualify for any exemptions and lacked sufficient evidence of being business-related. The Tribunal dismissed the appeal, confirming the disallowance of the cash payment. en-us Wed, 26 Apr 2023 00:00:00 +0530 Thu, 25 May 2023 09:12:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438190 The Tribunal upheld the disallowance of a cash payment of Rs. 10,00,000 under section 40A(3) of the Income Tax Act, 1961, as the assessee failed to prove that the expenditure was solely for business purposes. The Commissioner of Income Tax (Appeals) affirmed this decision, stating the payment did not qualify for any exemptions and lacked sufficient evidence of being business-related. The Tribunal dismissed the appeal, confirming the disallowance of the cash payment. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438190