#Section 40A(3)
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277 articlesIncome Tax
Income Tax
Grey Market Purchases Attract Only Profit Addition, Not Full Disallowance: ITAT Chandigarh
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Varanasi ITAT Quashes Reassessment; Earlier Assessment Had Examined Same Bank Account
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Kolkata ITAT: Section 69C Cannot Be Invoked on Recorded Sales Receipts; Cash Payments under Section 40A(3) Deleted on Commercial Expediency
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Income Tax
Agricultural Income Addition Deleted as Books Not Rejected: ITAT Bangalore
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Unaccounted sales must be taxed on net profit basis, not on gross profit: ITAT Delhi
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ITAT Deletes ₹18.24 Crore Addition as Corrupted Computer Records cannot Override Audited Books
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Section 40A(3) Addition Quashed as Department Failed to Prove Single-Day Violation
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No addition regarding commission income earned by PSPL as it was not an undisclosed income
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Section 40A: Expenses or payments not deductible in certain circumstances
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Prohibited transaction in cash/limit on cash transactions
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Cash Payments for Paddy Purchase Allowed as Transactions Fell Under Rule 6DD Exceptions
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Bangalore ITAT: No 40A(3) Disallowance on Mere Assumptions- Profit Estimation Without Rejecting Books Quashed
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ITAT Quashes Section 263 Revision Because PCIT Raised New Issues Beyond SCN
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