Dismissing the appeal the Court held that the assessee had not been able to show that its case fell in any of these categories. Accordingly the disallowance was justified. (AY. 2006-07)
Nam Estates Pvt. Ltd. v. ITO (2020) 428 ITR 186/(2021) 277 Taxman 169 (Karn.)(HC)
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-No reasonable cause to make payment- Disallowance is held to be justified. [R. 6DD]