Landmark Judgment : No 40A(3) disallowance of transaction is genuine and pyaree is identifiable

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Landmark Judgment : No 40A(3) disallowance of transaction is genuine and pyaree is identifiable

Gayatri Build Associates Pvt Ltd Vs DCIT
Whether even though payment is made in cash exceeding the prescribed limit but if the genuineness of payment is not in dispute and payee is identifiable from where payment is duly confirmed, rigors of section 40A(3) stands discharged – YES : ITAT
– Assessee’s appeal allowed: DELHI ITAT
ITA No. 1888/Del/2017

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