Tag: disallowance u/s 40A(3)
Disallowance us 40A(3) when income-profits are estimated. ITAT following Allahabad High Court judgment deletes additions for cash payments u/s 40A(3) ABCAUS Case Law Citation: ABCAUS 1154 (2017) (03) ITAT The Ground of Appeal: In the present appeal, the assessee, inter alia raised a ground challenging the order of …
Cash payment disallowance us 40A3 reduced to Rs 10000 in place of existing limit of Rs. 20000/- to a person in a day Budget 2017-18 : Measures to discourage cash transactions The existing provision of sub-section (3) of Section 40A of the Act, provides that any expenditure in …
Disallowance 40A3-two proprietorship concerns of same assessee. In the absence of alleged tax evasion, additions for cash purchases not warranted-ITAT ABCAUS Case Law Citation: 949 2016 (06) ITAT AY: 2008-09 Important Case Laws/Judgments Cited: Hasanand Pinjomal Vs. CIT 112 ITR 134 Gujarat High Court Smt. Ch. Mangayamma Vs. …
Disallowance u/s 40A(3) for cash payments cannot be made if genuineness not doubted – ITAT INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 102(Asr)/2014 Assessment Year: 2010-11 Rakesh Kumar (Appellant) vs. Asst. CIT (Respondent) Date of Order: 09-03-2016 ORDER PER T. S. KAPOOR (AM): This is an appeal filed by …
