Dismissing the appeal of the assessee ,the court held that failure of assessee to demonstrate a situation which compelled to make payment in cash for purchase of jewellery, disallowance is held to be justified. (AY. 2013 -14)
Natesan Krishnamurthy v. ITO (2019) 262 Taxman 127/ 178 DTR 177 (Mad.)(HC)
S. 40A(3) : Expenses or payments not deductible – Cash payments exceeding prescribed limits – Purchase of jewellery – failure to demonstrate a situation which compelled to make payment in cash- Disallowance is held to be justified.