https://www.taxtmi.com/caselaws?id=757317 ITAT Dehradun allowed appeal regarding cash payments exceeding Rs. 20,000 under section 40A(3), finding CIT(A) erred in rejecting business expediency arguments. Tribunal accepted vendor's circumstances including father's imprisonment and ill health, and that cash payment was precondition for land deal. However, regarding development expenses disallowance, ITAT upheld CIT(A)'s decision restricting disallowance to 5% instead of AO's 10%, citing lack of supporting vouchers and evidence. en-us Wed, 14 Aug 2024 00:00:00 +0530 Thu, 22 Aug 2024 09:08:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757317 ITAT Dehradun allowed appeal regarding cash payments exceeding Rs. 20,000 under section 40A(3), finding CIT(A) erred in rejecting business expediency arguments. Tribunal accepted vendor's circumstances including father's imprisonment and ill health, and that cash payment was precondition for land deal. However, regarding development expenses disallowance, ITAT upheld CIT(A)'s decision restricting disallowance to 5% instead of AO's 10%, citing lack of supporting vouchers and evidence. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757317