Disallowance u/s 40A(3) - cash payment to the farmers/land ...

Case Laws Income Tax

November 18, 2023

Disallowance u/s 40A(3) - cash payment to the farmers/land owners exceeding permissible limits - business expediency - section 40A(3) was intended to penalize the tax evader and not honest transactions and that is why after framing Rule 6DD(j) the CBDT steps in by issuing the circular dated 31st May 1977. - No penalty - AT

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Disallowance u/s 40A(3) - cash payment to the farmers/land ...

Case Laws Income Tax

November 18, 2023

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