Addition u/s 40A(3) - allegation of making huge cash payments in ...

Court Rules No Justification for Disallowance of Cash Payments over Rs. 20,000 u/s 40A(3) Without Records.

September 23, 2023

Case Laws Income Tax AT

Addition u/s 40A(3) - allegation of making huge cash payments in excess of Rs. 20,000/- As per the assessment order made u/s 144, no books of accounts were produced - in absence of examination of the books of accounts and without finding that such cash payments were made and debited to the profit and loss account, the AO could not have made the disallowance u/s. 40A(3). - AT

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Addition u/s 40A(3) - allegation of making huge cash payments in ...

Court Rules No Justification for Disallowance of Cash Payments over Rs. 20,000 u/s 40A(3) Without Records.

September 23, 2023

Case Laws Income Tax AT

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