https://www.taxtmi.com/article/detailed?id=13148 Excessive payment disallowance under 40A(3) is avoidable where the assessee proves business expediency, establishes the identity of the payees, and demonstrates the genuineness of the transactions; the Assessing Officer must take a pragmatic, fact-sensitive view, considering surrounding circumstances and whether payments were necessary to prevent substantial commercial harm. en-us Wed, 27 Nov 2024 15:48:59 +0530 Thu, 28 Nov 2024 09:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13148 Excessive payment disallowance under 40A(3) is avoidable where the assessee proves business expediency, establishes the identity of the payees, and demonstrates the genuineness of the transactions; the Assessing Officer must take a pragmatic, fact-sensitive view, considering surrounding circumstances and whether payments were necessary to prevent substantial commercial harm. Articles Income Tax Wed, 27 Nov 2024 15:48:59 +0530 https://www.taxtmi.com/article/detailed?id=13148