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2024 (3) TMI 890 - SC ORDERAddition u/s 40A(3) - purchases made otherwise than by account payee cheque - As decided by HC [2023 (10) TMI 1285 - DELHI HIGH COURT] payments made by the assessee to the concerns violated Section 40A(3) as they were not made through an account payee cheque drawn on a bank, account payee bank draft or through the use of electronic clearing system through a bank account, and therefore, to fall within the ambit of the 1977 circular, the appellant/assessee was required to establish the genuineness of the transactions. The appellant/assessee having failed to do so, led to the deduction being rightly disallowed for the subject payments. HELD THAT:- We are not inclined to interfere with the impugned judgment and order passed by the High Court. Hence, the Special Leave Petition is dismissed. Decided against assessee.
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