Cash Payments to Suppliers cannot be Disallowed since Genuineness of Payment and Existence of Suppliers were Proved: ITAT [Read Order]

Cash Payments - Suppliers - ITAT - Taxscan

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has held that the cash payments made to suppliers cannot be disallowed by invoking section 40A(3) of the Income Tax Act, 1961 by observing that the assessee has proved the genuineness of the payments and the existence of the suppliers. The assessee-firm, M/s. Om Balaji…

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