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Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1991 (8) TMI SC This

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1991 (8) TMI 5 - SC - Income Tax


  1. 2022 (7) TMI 339 - HC
  2. 2022 (1) TMI 1051 - HC
  3. 2021 (10) TMI 519 - HC
  4. 2021 (4) TMI 82 - HC
  5. 2020 (10) TMI 37 - HC
  6. 2020 (9) TMI 543 - HC
  7. 2020 (9) TMI 492 - HC
  8. 2020 (1) TMI 832 - HC
  9. 2019 (10) TMI 1129 - HC
  10. 2019 (5) TMI 195 - HC
  11. 2019 (1) TMI 37 - HC
  12. 2017 (11) TMI 1673 - HC
  13. 2017 (11) TMI 461 - HC
  14. 2017 (10) TMI 597 - HC
  15. 2017 (9) TMI 1684 - HC
  16. 2017 (11) TMI 520 - HC
  17. 2016 (11) TMI 210 - HC
  18. 2016 (6) TMI 1121 - HC
  19. 2016 (5) TMI 590 - HC
  20. 2016 (5) TMI 287 - HC
  21. 2015 (8) TMI 569 - HC
  22. 2015 (7) TMI 694 - HC
  23. 2015 (7) TMI 692 - HC
  24. 2014 (12) TMI 1341 - HC
  25. 2014 (8) TMI 486 - HC
  26. 2014 (2) TMI 30 - HC
  27. 2013 (8) TMI 939 - HC
  28. 2012 (10) TMI 808 - HC
  29. 2011 (3) TMI 95 - HC
  30. 2011 (2) TMI 1128 - HC
  31. 2010 (4) TMI 236 - HC
  32. 2009 (6) TMI 565 - HC
  33. 2008 (1) TMI 205 - HC
  34. 2007 (11) TMI 599 - HC
  35. 2006 (9) TMI 146 - HC
  36. 2005 (2) TMI 99 - HC
  37. 2004 (3) TMI 42 - HC
  38. 2004 (1) TMI 37 - HC
  39. 2003 (9) TMI 31 - HC
  40. 2003 (7) TMI 41 - HC
  41. 2003 (5) TMI 44 - HC
  42. 2002 (12) TMI 69 - HC
  43. 2002 (6) TMI 8 - HC
  44. 2002 (3) TMI 26 - HC
  45. 2001 (1) TMI 51 - HC
  46. 2000 (3) TMI 32 - HC
  47. 1999 (10) TMI 59 - HC
  48. 1999 (8) TMI 61 - HC
  49. 1997 (3) TMI 36 - HC
  50. 1996 (9) TMI 60 - HC
  51. 1995 (9) TMI 53 - HC
  52. 1993 (12) TMI 46 - HC
  53. 1992 (8) TMI 67 - HC
  54. 2024 (8) TMI 1021 - AT
  55. 2024 (7) TMI 782 - AT
  56. 2024 (7) TMI 127 - AT
  57. 2024 (4) TMI 799 - AT
  58. 2024 (1) TMI 998 - AT
  59. 2024 (7) TMI 947 - AT
  60. 2024 (1) TMI 908 - AT
  61. 2024 (1) TMI 542 - AT
  62. 2023 (11) TMI 989 - AT
  63. 2023 (9) TMI 482 - AT
  64. 2024 (5) TMI 340 - AT
  65. 2023 (11) TMI 630 - AT
  66. 2023 (7) TMI 1322 - AT
  67. 2023 (5) TMI 997 - AT
  68. 2023 (5) TMI 782 - AT
  69. 2023 (4) TMI 691 - AT
  70. 2023 (3) TMI 1516 - AT
  71. 2023 (1) TMI 1215 - AT
  72. 2023 (1) TMI 92 - AT
  73. 2022 (12) TMI 1453 - AT
  74. 2023 (6) TMI 332 - AT
  75. 2022 (11) TMI 1189 - AT
  76. 2022 (10) TMI 759 - AT
  77. 2023 (1) TMI 206 - AT
  78. 2022 (9) TMI 713 - AT
  79. 2022 (10) TMI 416 - AT
  80. 2022 (9) TMI 1021 - AT
  81. 2022 (9) TMI 548 - AT
  82. 2023 (1) TMI 1111 - AT
  83. 2022 (6) TMI 23 - AT
  84. 2022 (6) TMI 1269 - AT
  85. 2023 (1) TMI 200 - AT
  86. 2022 (4) TMI 1592 - AT
  87. 2022 (4) TMI 741 - AT
  88. 2022 (4) TMI 800 - AT
  89. 2022 (3) TMI 774 - AT
  90. 2021 (12) TMI 1192 - AT
  91. 2021 (12) TMI 95 - AT
  92. 2021 (10) TMI 547 - AT
  93. 2021 (9) TMI 16 - AT
  94. 2021 (7) TMI 81 - AT
  95. 2021 (5) TMI 897 - AT
  96. 2021 (4) TMI 684 - AT
  97. 2021 (4) TMI 584 - AT
  98. 2021 (3) TMI 1150 - AT
  99. 2021 (3) TMI 518 - AT
  100. 2021 (2) TMI 1209 - AT
  101. 2021 (9) TMI 577 - AT
  102. 2021 (1) TMI 945 - AT
  103. 2020 (11) TMI 480 - AT
  104. 2021 (1) TMI 354 - AT
  105. 2020 (10) TMI 1191 - AT
  106. 2021 (1) TMI 75 - AT
  107. 2020 (11) TMI 406 - AT
  108. 2020 (3) TMI 945 - AT
  109. 2020 (3) TMI 873 - AT
  110. 2020 (4) TMI 299 - AT
  111. 2020 (2) TMI 254 - AT
  112. 2020 (2) TMI 775 - AT
  113. 2020 (1) TMI 683 - AT
  114. 2019 (11) TMI 647 - AT
  115. 2019 (11) TMI 62 - AT
  116. 2019 (9) TMI 1005 - AT
  117. 2019 (9) TMI 908 - AT
  118. 2019 (9) TMI 685 - AT
  119. 2019 (12) TMI 436 - AT
  120. 2019 (9) TMI 1228 - AT
  121. 2019 (9) TMI 721 - AT
  122. 2019 (7) TMI 538 - AT
  123. 2019 (9) TMI 90 - AT
  124. 2019 (5) TMI 1692 - AT
  125. 2019 (5) TMI 531 - AT
  126. 2019 (4) TMI 2012 - AT
  127. 2019 (3) TMI 553 - AT
  128. 2019 (2) TMI 1053 - AT
  129. 2018 (12) TMI 1659 - AT
  130. 2018 (12) TMI 1998 - AT
  131. 2018 (12) TMI 1693 - AT
  132. 2018 (11) TMI 131 - AT
  133. 2018 (10) TMI 1437 - AT
  134. 2018 (9) TMI 865 - AT
  135. 2018 (9) TMI 777 - AT
  136. 2018 (8) TMI 1191 - AT
  137. 2018 (8) TMI 276 - AT
  138. 2018 (8) TMI 194 - AT
  139. 2018 (7) TMI 2011 - AT
  140. 2018 (7) TMI 132 - AT
  141. 2018 (6) TMI 1451 - AT
  142. 2018 (9) TMI 210 - AT
  143. 2018 (6) TMI 1273 - AT
  144. 2018 (6) TMI 1240 - AT
  145. 2018 (4) TMI 998 - AT
  146. 2018 (3) TMI 1880 - AT
  147. 2018 (2) TMI 1206 - AT
  148. 2018 (1) TMI 1527 - AT
  149. 2017 (12) TMI 1329 - AT
  150. 2017 (11) TMI 1062 - AT
  151. 2017 (11) TMI 1308 - AT
  152. 2018 (1) TMI 1028 - AT
  153. 2017 (10) TMI 1016 - AT
  154. 2017 (10) TMI 1492 - AT
  155. 2017 (10) TMI 1491 - AT
  156. 2017 (11) TMI 112 - AT
  157. 2017 (9) TMI 1633 - AT
  158. 2017 (8) TMI 948 - AT
  159. 2017 (8) TMI 607 - AT
  160. 2017 (8) TMI 721 - AT
  161. 2017 (8) TMI 1180 - AT
  162. 2017 (6) TMI 170 - AT
  163. 2017 (5) TMI 1531 - AT
  164. 2017 (5) TMI 1658 - AT
  165. 2017 (4) TMI 1445 - AT
  166. 2017 (7) TMI 662 - AT
  167. 2017 (2) TMI 1405 - AT
  168. 2017 (9) TMI 1512 - AT
  169. 2017 (1) TMI 1836 - AT
  170. 2017 (7) TMI 203 - AT
  171. 2017 (1) TMI 1216 - AT
  172. 2017 (1) TMI 48 - AT
  173. 2016 (12) TMI 555 - AT
  174. 2016 (12) TMI 1240 - AT
  175. 2016 (12) TMI 549 - AT
  176. 2016 (10) TMI 1355 - AT
  177. 2016 (11) TMI 391 - AT
  178. 2016 (11) TMI 525 - AT
  179. 2016 (9) TMI 1537 - AT
  180. 2016 (9) TMI 1437 - AT
  181. 2016 (9) TMI 1538 - AT
  182. 2016 (9) TMI 1154 - AT
  183. 2016 (9) TMI 995 - AT
  184. 2016 (9) TMI 813 - AT
  185. 2016 (9) TMI 810 - AT
  186. 2016 (11) TMI 1034 - AT
  187. 2016 (8) TMI 71 - AT
  188. 2016 (8) TMI 356 - AT
  189. 2016 (8) TMI 642 - AT
  190. 2016 (6) TMI 1254 - AT
  191. 2016 (9) TMI 453 - AT
  192. 2016 (6) TMI 216 - AT
  193. 2016 (5) TMI 1515 - AT
  194. 2016 (5) TMI 634 - AT
  195. 2016 (3) TMI 1304 - AT
  196. 2016 (3) TMI 1233 - AT
  197. 2016 (3) TMI 1247 - AT
  198. 2016 (4) TMI 856 - AT
  199. 2016 (2) TMI 1207 - AT
  200. 2016 (3) TMI 20 - AT
  201. 2016 (2) TMI 1098 - AT
  202. 2016 (2) TMI 1335 - AT
  203. 2015 (12) TMI 1693 - AT
  204. 2016 (1) TMI 359 - AT
  205. 2015 (12) TMI 765 - AT
  206. 2016 (6) TMI 244 - AT
  207. 2015 (11) TMI 1128 - AT
  208. 2015 (11) TMI 3 - AT
  209. 2015 (10) TMI 1893 - AT
  210. 2015 (9) TMI 276 - AT
  211. 2015 (4) TMI 788 - AT
  212. 2015 (8) TMI 1076 - AT
  213. 2015 (4) TMI 368 - AT
  214. 2014 (12) TMI 923 - AT
  215. 2014 (10) TMI 1039 - AT
  216. 2014 (11) TMI 219 - AT
  217. 2014 (8) TMI 1069 - AT
  218. 2014 (12) TMI 254 - AT
  219. 2014 (8) TMI 271 - AT
  220. 2014 (8) TMI 63 - AT
  221. 2015 (3) TMI 184 - AT
  222. 2014 (5) TMI 1074 - AT
  223. 2014 (2) TMI 1334 - AT
  224. 2013 (12) TMI 55 - AT
  225. 2013 (12) TMI 959 - AT
  226. 2014 (2) TMI 738 - AT
  227. 2013 (8) TMI 1088 - AT
  228. 2013 (5) TMI 895 - AT
  229. 2013 (9) TMI 535 - AT
  230. 2013 (9) TMI 534 - AT
  231. 2013 (12) TMI 304 - AT
  232. 2012 (12) TMI 1106 - AT
  233. 2012 (10) TMI 1108 - AT
  234. 2013 (1) TMI 210 - AT
  235. 2012 (11) TMI 808 - AT
  236. 2013 (2) TMI 379 - AT
  237. 2012 (10) TMI 561 - AT
  238. 2012 (10) TMI 391 - AT
  239. 2012 (9) TMI 579 - AT
  240. 2012 (12) TMI 715 - AT
  241. 2012 (7) TMI 264 - AT
  242. 2012 (7) TMI 579 - AT
  243. 2012 (8) TMI 188 - AT
  244. 2012 (6) TMI 482 - AT
  245. 2012 (2) TMI 528 - AT
  246. 2012 (5) TMI 236 - AT
  247. 2012 (5) TMI 233 - AT
  248. 2011 (10) TMI 639 - AT
  249. 2011 (9) TMI 1016 - AT
  250. 2011 (8) TMI 1329 - AT
  251. 2011 (8) TMI 1157 - AT
  252. 2011 (6) TMI 502 - AT
  253. 2011 (3) TMI 1349 - AT
  254. 2010 (11) TMI 485 - AT
  255. 2010 (4) TMI 905 - AT
  256. 2010 (3) TMI 1118 - AT
  257. 2009 (9) TMI 999 - AT
  258. 2009 (8) TMI 810 - AT
  259. 2009 (3) TMI 225 - AT
  260. 2008 (12) TMI 236 - AT
  261. 2008 (11) TMI 276 - AT
  262. 2008 (9) TMI 412 - AT
  263. 2008 (3) TMI 350 - AT
  264. 2008 (2) TMI 494 - AT
  265. 2007 (6) TMI 252 - AT
  266. 2006 (3) TMI 301 - AT
  267. 2005 (11) TMI 432 - AT
  268. 2005 (9) TMI 216 - AT
  269. 2005 (7) TMI 645 - AT
  270. 2004 (8) TMI 319 - AT
  271. 2004 (1) TMI 633 - AT
  272. 2003 (10) TMI 261 - AT
  273. 2003 (7) TMI 647 - AT
  274. 2003 (3) TMI 323 - AT
  275. 2002 (3) TMI 216 - AT
  276. 2000 (6) TMI 157 - AT
  277. 2000 (5) TMI 169 - AT
  278. 1998 (7) TMI 135 - AT
  279. 1998 (7) TMI 111 - AT
  280. 1998 (3) TMI 163 - AT
  281. 1997 (6) TMI 72 - AT
  282. 1997 (4) TMI 106 - AT
  283. 1996 (3) TMI 168 - AT
  284. 1996 (1) TMI 144 - AT
  285. 1995 (8) TMI 108 - AT
  286. 1995 (4) TMI 128 - AT
  287. 1994 (10) TMI 106 - AT
  288. 1994 (7) TMI 111 - AT
  289. 1994 (3) TMI 157 - AT
  290. 1994 (3) TMI 158 - AT
  291. 1994 (1) TMI 245 - AT
  292. 1993 (5) TMI 53 - AT
  293. 1993 (3) TMI 164 - AT
Issues:
1. Validity of section 40A(3) of the Income-tax Act, 1961.
2. Applicability of Section 40A(3) to payments made for acquiring stock-in-trade.

Analysis:

Validity of section 40A(3):
The judgment addresses the contention that section 40A(3) of the Income-tax Act, 1961, which disallows deductions for payments exceeding a specified amount made in cash, is arbitrary and restricts the right to carry on business. The court clarifies that section 40A(3) must be read in conjunction with rule 6DD, which provides exceptions and circumstances where payments exceeding the specified amount can be made in cash. The court emphasizes that the provision aims to regulate business transactions, prevent the use of unaccounted money, and curb black money circulation. It highlights that genuine transactions can still be claimed as deductions if the assessee satisfies the Assessing Officer regarding the impracticability of making payments through crossed cheques or bank drafts. The court underscores that such regulations do not impede the freedom of trade or business but rather aim to ensure transparency and accountability in financial transactions.

Applicability of Section 40A(3) to payments for acquiring stock-in-trade:
The judgment interprets the term "expenditure" under section 40A(3) as encompassing all outgoings, including payments for purchasing stock-in-trade. It explains that payments made for stock-in-trade fall within the purview of "expenditure" and can be disallowed if made in cash exceeding the specified limit. The court highlights the alignment of rule 6DD with section 40A(3), which exempts certain transactions from the requirement of crossed cheques or bank drafts. It cites various High Court decisions supporting the view that payments for acquiring stock-in-trade are considered as expenditure under section 40A(3). The judgment rejects the dissenting opinion of the Gauhati High Court, which argued that payments for stock-in-trade do not qualify as "expenditure incurred." Ultimately, the court dismisses the appeals and special leave petition, upholding the applicability of section 40A(3) to payments made for acquiring stock-in-trade.

This comprehensive analysis of the judgment highlights the court's interpretation and application of section 40A(3) of the Income-tax Act, 1961, addressing both its validity and applicability to payments for acquiring stock-in-trade.

 

 

 

 

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