https://www.taxtmi.com/caselaws?id=312679 ITAT Visakhapatnam ruled on two tax additions. First, regarding cash payments to farmers under section 40A(3), the tribunal found merit in assessee's argument that payments made during bank holidays when neither party had bank accounts were exempt under Rule 6DD(j) of IT Rules, 1962. The addition was deleted. Second, concerning deficit cash addition under sections 69 and 115BBE, the tribunal upheld CIT(A)'s decision as assessee failed to provide cogent evidence supporting claimed expenditure. The ground was dismissed. en-us Tue, 28 Feb 2023 00:00:00 +0530 Fri, 01 Mar 2024 18:03:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312679 ITAT Visakhapatnam ruled on two tax additions. First, regarding cash payments to farmers under section 40A(3), the tribunal found merit in assessee's argument that payments made during bank holidays when neither party had bank accounts were exempt under Rule 6DD(j) of IT Rules, 1962. The addition was deleted. Second, concerning deficit cash addition under sections 69 and 115BBE, the tribunal upheld CIT(A)'s decision as assessee failed to provide cogent evidence supporting claimed expenditure. The ground was dismissed. Case-Laws Income Tax Tue, 28 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312679