ITAT Deletes Section 40A(3) Disallowance as No Single Cash Payment Exceeded Rs. 10,000

Advertisement ACIT Vs United Hitech Pvt. Ltd. (ITAT Delhi) In this case before the Income Tax Appellate Tribunal, the Revenue challenged the order of the Commissioner of Income Tax (Appeals), NFAC, Delhi, dated 25.09.2024 for Assessment Year 2018-19. The dispute arose from an assessment completed under Sections 143(3), 143(3A), and 143(3B) of the Income Tax Act. The assessee company had filed its return of income declaring total income of Rs. 40,24,910. The case was selected for scrutiny under CASS on issues relating to refund, unsecured loans, and contract receipts or fees. The assessee wa...