#Section 40A(3)
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277 articlesIncome Tax
Income Tax
Cash advance not claimed as deduction cannot be disallowed u/s 40A (3)
Income Tax
Income Tax
Peak credit theory for addition to income is applicable when deposit in bank account is out of cash withdrawals
Income Tax
Income Tax
Section 40A(3) not applies to cash payment exceeding Rs. 20000 made to Government controlled electricity distribution company
Income Tax
Income Tax
Payment made in excess of Rs 20000/- should be allowed if made in business exigency
Income Tax
Income Tax
Sec. 40A(3) is to curb / reduce black money transactions not business expediencies
Income Tax
Income Tax
Unsubstantiated material found in pen drive cannot be considered as a conclusive evidence to make additions
Income Tax
Income Tax
S. 40A(3) No disallowance for cash payments made to ‘Broker’ who makes cash payments on behalf of the assessee
Income Tax
Income Tax
Assessee must substantiate its claim that payment in cash were not in violation of section 40A(3)
Income Tax
Income Tax
Deposit of cash in principal’s bank account by agent held as not a violation of sec. 40A(3)
Income Tax
Income Tax
Section 40A(3) does not eliminate considerations of business expediencies -SC
Income Tax
Income Tax
