Disallowance u/s 40A(3) - part payment in cash in excess of the ...

Case Laws Income Tax

July 11, 2019

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 of Section 40A(3) comes into operation - Ld. Counsel for the Assessee in his capacity as Officer of the court stated that he will give an undertaking that the impugned amount will not be claimed as expenditure in subsequent years against the revenue/gross turn over - disallowance deleted

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Disallowance u/s 40A(3) - part payment in cash in excess of the ...

Case Laws Income Tax

July 11, 2019

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