https://www.taxtmi.com/caselaws?id=55111 The Appellate Tribunal ITAT Ahmedabad allowed the appeal by the assessee, overturning the disallowance under section 40A(3) of the Income Tax Act for a cash payment to M/s Khedut Traders. The Tribunal found that the cash payment of Rs. 11,000 was justified under Rule 6DD(j) of the Income Tax Rules, 1962, due to exceptional and unavoidable circumstances faced by the payee, who needed immediate cash and did not have a bank account at the transaction location. The Tribunal emphasized interpreting the rule from a businessman's perspective and ruled in favor of the assessee, highlighting the genuine nature of the transaction and the payee's identity. en-us Fri, 09 Nov 1990 00:00:00 +0530 Sun, 06 Feb 2011 03:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55111 The Appellate Tribunal ITAT Ahmedabad allowed the appeal by the assessee, overturning the disallowance under section 40A(3) of the Income Tax Act for a cash payment to M/s Khedut Traders. The Tribunal found that the cash payment of Rs. 11,000 was justified under Rule 6DD(j) of the Income Tax Rules, 1962, due to exceptional and unavoidable circumstances faced by the payee, who needed immediate cash and did not have a bank account at the transaction location. The Tribunal emphasized interpreting the rule from a businessman's perspective and ruled in favor of the assessee, highlighting the genuine nature of the transaction and the payee's identity. Case-Laws Income Tax Fri, 09 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55111