https://www.taxtmi.com/caselaws?id=446418 ITAT Chennai upheld CIT(A)'s decision restricting bonus payment disallowance to 20% instead of total disallowance by AO. Assessee couldn't provide evidence due to 8-year lapse but had actually paid bonus to staff twice. CIT(A) found AO's complete disallowance excessive given circumstances. Regarding Section 40A(3) disallowance for cash payments exceeding Rs. 20,000, ITAT deleted addition as AO failed to verify cash book properly and tax auditor made no adverse comments. CIT(A)'s findings based on evidence were uncontroverted by revenue. Revenue's appeal dismissed. en-us Wed, 01 Nov 2023 00:00:00 +0530 Mon, 04 Dec 2023 08:44:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446418 ITAT Chennai upheld CIT(A)'s decision restricting bonus payment disallowance to 20% instead of total disallowance by AO. Assessee couldn't provide evidence due to 8-year lapse but had actually paid bonus to staff twice. CIT(A) found AO's complete disallowance excessive given circumstances. Regarding Section 40A(3) disallowance for cash payments exceeding Rs. 20,000, ITAT deleted addition as AO failed to verify cash book properly and tax auditor made no adverse comments. CIT(A)'s findings based on evidence were uncontroverted by revenue. Revenue's appeal dismissed. Case-Laws Income Tax Wed, 01 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446418