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

Cash Payment Disallowance u/s 40A(3) Deleted After Assessee's Undertaking Not to Claim Future Expenditure.

July 11, 2019

Case Laws Income Tax AT

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 ...

Cash Payment Disallowance u/s 40A(3) Deleted After Assessee's Undertaking Not to Claim Future Expenditure.

July 11, 2019

Case Laws Income Tax AT

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