ITAT Upholds Section 40A(3) Addition for Cash Payments

Devcare Solutions Vs ITO (ITAT Chennai) ITAT Chennai Upholds Cash Payment Disallowance Exceeding Rs. 10,000 Threshold, Technical Fees Disallowed for Lack of Proof The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has upheld disallowances made by the tax authorities against Devcare Solutions for the assessment year 2021-22. The disallowances related primarily to payments for technical services where genuineness could not be proved and significant cash expenditures exceeding the statutory threshold. The Tribunal dismissed the assessee’s appeal, confirming the orders of the lower tax...