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Case Law Details

Case Name : Kalimuthu Harichandran Vs ACIT (ITAT Chennai)
Related Assessment Year : 2012–13
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Kalimuthu Harichandran Vs ACIT (ITAT Chennai)

ITAT Chennai held that disallowance u/s 40A(3) of the Income Tax Act sustainable as aggregate of the payments made to a single party otherwise by an account payee cheque drawn on a bank or account payee bank draft exceeds Rs.20,000/-in a day.

Facts- AO during the course of assessment proceedings, while examining the books of accounts noted that the assessee has made cash payment in excess of Rs.20,000/- for purchase of dhall and oil.

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