Court Reviews Disallowance of Cash Payments u/s 40A(3); Assessee Argues Double Taxation and Business Necessity.

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....Disallowance of cash payments u/s 40A(3) - making additions by invoking the provisions of section 40A(3) of the Act amounts to double additions which is not permissible under the law. There exists a business expediency in making the cash payments towards purchase of goods. The assessee was obliged to make the cash payments required by the suppliers - AT....