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![Cash Payments made in a Village which does not have Banking Facility are not allowable as Expenditure unless Genuineness of Same is proved: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/03/Cash-Transaction-Limit.jpg "Cash Payments made in a Village which does not have Banking Facility are not allowable as Expenditure unless Genuineness of Same is proved: Bombay HC [Read Judgment]")
Cash Payments made in a Village which does not have Banking Facility are not allowable as Expenditure unless Genuineness of Same is proved: Bombay HC [Read Judgment]
Recently in Ellora Paper Mills Ltd v. CIT, the Bombay High Court held that the assessee cannot avail the benefit of Section 40A(3) of the Income Tax...