https://www.taxtmi.com/caselaws?id=445739 ITAT Indore allowed the assessee's appeal on two issues. First, regarding disallowance u/s 40A(3) for cash payments to farmers/landowners exceeding permissible limits, the tribunal held that provisions are not intended to restrict genuine business activities. Following SC precedent in Attar Singh Gurmukh Singh and Gujarat HC in Anupam Tele Services, the tribunal ruled that if genuineness of transactions and payee identity are established, Rule 6DD benefits apply. Second, concerning 30% disallowance of directors' remuneration under section 40A(2)(b), the tribunal deleted the adhoc disallowance, noting both directors paid maximum marginal tax rates with no revenue loss. en-us Thu, 03 Aug 2023 00:00:00 +0530 Sat, 18 Nov 2023 08:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445739 ITAT Indore allowed the assessee's appeal on two issues. First, regarding disallowance u/s 40A(3) for cash payments to farmers/landowners exceeding permissible limits, the tribunal held that provisions are not intended to restrict genuine business activities. Following SC precedent in Attar Singh Gurmukh Singh and Gujarat HC in Anupam Tele Services, the tribunal ruled that if genuineness of transactions and payee identity are established, Rule 6DD benefits apply. Second, concerning 30% disallowance of directors' remuneration under section 40A(2)(b), the tribunal deleted the adhoc disallowance, noting both directors paid maximum marginal tax rates with no revenue loss. Case-Laws Income Tax Thu, 03 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445739