Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2018 Year 2018 This

Addition u/s 40A(3) - cash payments made against purchases of ...


Cash Payments Over Rs. 20,000 for Liquor Purchases Exempted from Addition u/r 6DD(b) of Income Tax Rules.

April 13, 2018

Case Laws     Income Tax     AT

Addition u/s 40A(3) - cash payments made against purchases of liquor exceeding ₹ 20,000/- - the payment made by the assessee for the purchase of country liquor and country spirit from the territorial licensee bottling plant is protected by the exemption in terms of Rule 6DD(b) of the I.T Rules 1962 - AT

View Source

 


 

You may also like:

  1. Addition u/s 40A - purchases in cash in excess of ₹ 20,000/ - case of the assessee that all the cash purchase are fully covered under Rule 6DD(e)(ii) of the Income...

  2. Addition u/s 40A(3) - payments in cash towards purchases - ld.AR claimed that the payments were covered under the exception of Rule 6DD of the Income Tax Rules, 1962,...

  3. In the case, ITAT decided on two main issues: 1. Addition on account of Gold and Silver Jewellery u/s 69A: Assessee disclosed Rs. 70,00,000 as unexplained investment...

  4. Disallowance u/s 40A(3) - Payment in cash in excess of Rs. 20,0000 - exception under rule 6DD - purchase of marble chips and alluminium product cannot be said to be an...

  5. Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

  6. Addition u/s 40A(3) - cash purchases of petrol - Assessee was in the habit of purchasing petrol regularly - Assessee has not produced any documentary evidences to...

  7. Addition u/s 40A(3) of the Income Tax Act,1961 - Exceptions under Rule 6DD of the Income Tax Rules - Cash payment made due to cheque bounced - payment made in cash does...

  8. SC upheld the Tribunal's compensation award in a motor accident death claim, restoring Rs. 58,24,000/- for father and Rs. 93,61,000/- for mother against claimed amounts...

  9. The Income Tax Appellate Tribunal held that cash found in two lockers belonged to RNB Temple Trust and Ram Bajaj Foundation. The Trust's balance sheet showed cash in...

  10. ITAT upheld partial rejection of books under s.145(3) due to unverifiable self-made cash vouchers, though specific quantification was lacking. Given turnover of...

  11. The case involved legality of assessment u/s 153A without search or Panchnama. The search warrant named the assessee company, rejecting the objection. No incriminating...

  12. Addition u/s 40A(3) - cash payments were made to truck drivers after banking hours - even this amount should not have been disallowed u/s 40A(3) read with Rule 6DD of...

  13. Cash payment for purchase of fruits - the payment in cash for purchase of agricultural commodities is covered by Rule 6DD(e) of the Rules and in such a situation merely...

  14. Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till...

  15. The assessing officer (AO) made additions to the assessee's income based on alleged bogus purchases and unexplained investments. The key points are: Addition of Rs....

 

Quick Updates:Latest Updates