https://www.taxtmi.com/caselaws?id=751618 ITAT Delhi ruled on cash expenditure disallowance under section 40A(3) where assessee made payments exceeding INR 20,000 to land owners. The tribunal held that only 20% of such cash expenditure should be disallowed, rejecting assessee's business expediency argument due to lack of evidence. The tribunal directed AO to restrict disallowance to 20% of total cash expenditure exceeding the prescribed limit, partially allowing assessee's grounds of appeal. en-us Thu, 18 Apr 2024 00:00:00 +0530 Fri, 19 Apr 2024 22:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751618 ITAT Delhi ruled on cash expenditure disallowance under section 40A(3) where assessee made payments exceeding INR 20,000 to land owners. The tribunal held that only 20% of such cash expenditure should be disallowed, rejecting assessee's business expediency argument due to lack of evidence. The tribunal directed AO to restrict disallowance to 20% of total cash expenditure exceeding the prescribed limit, partially allowing assessee's grounds of appeal. Case-Laws Income Tax Thu, 18 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751618