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2018 (6) TMI 1391 - AT - Income TaxDisallowance u/s 40A - payment in case exceeding permissible limits - purchase of land from the farmers - payment was made on Sunday, when the banks were closed - Held that:- Payment was made on Dt. 05.08.2012 i.e. 'Sunday' which is not disputed by the AO as well as Ld. CIT(A) and Rule 6DD(j) specifically provides exception for disallowance under section 40A(3) on the day on, which banks are closed. The payments were made to farmers for purchase of their agricultural land and the payments are duly supported by the various documentation in form of conveyance deed etc. Therefore, in the above circumstances, disallowance made under section 40A(3) is not justified. - decided in favour of assessee
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