Disallowance of cash payments in excess of prescribed limit u/s. ...

Cash Payments Over Limit u/s 40A(3) Not Disallowed Due to Unique Business Circumstances.

December 21, 2021

Case Laws Income Tax AT

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 business of assessee, we find that those payments cannot be considered for disallowance u/s. 40A(3) of the Act. To sum up, all payments made by the assessee for purchase of materials in excess of prescribed limit provided u/s. 40A(3) of the Act cannot be disallowed - AT

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Disallowance of cash payments in excess of prescribed limit u/s. ...

Cash Payments Over Limit u/s 40A(3) Not Disallowed Due to Unique Business Circumstances.

December 21, 2021

Case Laws Income Tax AT

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