Home Highlights June 2014 Year 2014 This

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1. Disallowance of cash payments in excess of prescribed limit u/s. 40A(3) - even though few payments is covered u/s. 40A(3) of the Act, because of peculiar nature of...

2. Mere disallowance of expenses u/s 40A(3) would not invite penalty for concealing or furnishing inaccurate particulars of income. Assessee disclosed all particulars...

3. Disallowance u/s 40A(3) - transactions and payments made in cash - assessee filed affidavits from sub-contractors of assessee firm and they insisted for cash payments to...

4. Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

5. Disallowance u/s 40A(3) - payment in case for purchase of recharge vouchers from Tata Teleservices Limited - payments were genuine - rigors of section 40A(3) / Rule 6DD...

6. Disallowance of freight expenditure u/s 40A(3) paid in Cash - As enhanced limit of ₹ 35,000/- is applicable for the payment to the transport operators and in other...

7. Disallowance u/s 40A(3) - cash payments of expenditures - poor creditability in the market - genuineness of such expenditure is not in dispute - AO directed to sustain...

8. Disallowance u/s 40A(3) - part payment in cash in excess of the limit prescribed u/s 40A(3) for purchase of land - since it forms part of stock and trade the provisions...

9. Disallowance u/s.40A(3) - expenses towards air ticket and hotel expenses in cash in excess of prescribed limit u/s.40A(3) - there is merit in arguments of the assessee...

10. Addition u/s 40A(3) - cash payment in excess of prescribed limit - Genuineness or otherwise of payment is not a criteria to exclude cash payment in excess of prescribed...

11. Disallowance of cash payments u/s 40A(3) - making additions by invoking the provisions of section 40A(3) of the Act amounts to double additions which is not permissible...

12. Disallowance u/s. 40A(3) - no disallowance can be made u/s. 40A(3) and benefit of rule 6DD(j) will be given to the assessee therein it is contemplated that if payment of...

13. Disallowance u/s 40A(3) - cash payments to lorry drivers - The payments is supported by ledger account of transport operators on whose behalf the payment were made to...

14. Disallowance u/s 40A(3) - cash payment - There is no case of addition of section 40A(3) with regard to purchases that were made on account of capital items - AT

15. Addition u/s 40A(3) - Cash expenditure - assessee has made payments to the land owners exceeding INR 20,000/- - The Tribunal agreed with the appellant's argument to some...