https://www.taxtmi.com/caselaws?id=61180 The Tribunal ruled in favor of the assessee, holding that the addition of Rs. 35,000 under Section 40A(3) of the IT Act was unjustified due to the exceptional circumstances justifying the cash payment to M/s Lathi Warehouse. Additionally, the disallowance of Rs. 23,600 for earlier years' warehouse charges was deemed unwarranted as it pertained to the current assessment year under the mercantile method of accounting. As a result, the appeal was allowed, and the additions made by the ITO were deleted. en-us Fri, 21 May 1982 00:00:00 +0530 Tue, 11 Jan 2011 12:16:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61180 The Tribunal ruled in favor of the assessee, holding that the addition of Rs. 35,000 under Section 40A(3) of the IT Act was unjustified due to the exceptional circumstances justifying the cash payment to M/s Lathi Warehouse. Additionally, the disallowance of Rs. 23,600 for earlier years' warehouse charges was deemed unwarranted as it pertained to the current assessment year under the mercantile method of accounting. As a result, the appeal was allowed, and the additions made by the ITO were deleted. Case-Laws Income Tax Fri, 21 May 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61180