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No section 40A(3) disallowance for Cash payment as part of sale consideration which is incorporated in purchase deed
Case Law Details
- Case Name
- Shivaji Bhimaji Gaikwad Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
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Shivaji Bhimaji Gaikwad Vs ITO (ITAT Pune)
No section 40A(3) disallowance for Cash payment for land as part of sale consideration which is incorporated in purchase deed
Brief facts relating to the issue on hand are that the assessee is an individual and derives income from land deals and construction. The assessee filed return of income declaring a total income of Rs.1,45,240/-and agricultural income at Rs.80,700/-. Under scrutiny notices u/s. 143(2) and 142(1) of the Act were issued. In response to the said notices, the assessee participated in the assessment proceedings. Dur...
