disallowance u/s 40A(3) Archives - Page 3 of 3

Cash payments for purchase of liquor to government authorized licencee are covered by exception provided under Rule 6DD-ITAT

administrator July 24, 2018 Income Tax, ITAT

Cash payments for purchase of liquor to government authorized licencee covered by exception provided under Rule 6DD. ITAT deletes addition u/s 40A(3) ABCAUS Case Law Citation: ABCAUS 2432 (2018) 07 ITAT The Appellant assessee had filed the present appeal against the order passed by CIT(A) inter alia in …

Disallowance 40(A)(3) for cash payment deleted when payee was new and refused cheque

administrator June 16, 2018 Income Tax, ITAT

Disallowance 40(A)(3) for cash payment deleted when payee was new. When genuiness of payment not doubted there was every possibility that party refused to cheques / Demand draft – ITAT ABCAUS Case Law Citation ABCAUS 2372 (2018) 06 ITAT During the course of the assessment proceedings, the Assessing …

No disallowance u/s 40A(3) even if aggregate payment exceeds Rs 20000 if bills amount not exceed Rs. 20000

administrator April 22, 2018 Income Tax, ITAT

No disallowance u/s 40A(3) even if aggregate payment exceeds Rs 20000 if payment is made in cash against different bills none exceeding Rs. 20,000/ ABCAUS Case Law Citation: ABCAUS 2296 (2018) (04) ITAT Prelude: Finance Act, 2008 made amendment to the provisions of sub-section (3) of section 40A …

Disallowance u/s 40A(3) for cash payment to BSNL deleted as BSNL is a “State” and payments were made for business expediency-ITAT

administrator March 4, 2018 Income Tax, ITAT, Judgments

Disallowance u/s 40A(3) for cash payment to BSNL deleted as BSNL is a State and payments were made for business expediency and were not doubted – ITAT ABCAUS Case Law Citation: ABCAUS 2231 (2018) (03) ITAT Section 40A(3) of the Income Tax Act, 1961 (the Act) puts an …

Disallowance us 40A(3) when income-profits are estimated. ITAT following Allahabad High Court judgment deletes additions for cash payments

administrator March 4, 2017 Income Tax, ITAT, Judgments

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

administrator February 1, 2017 Budget 2017-18, Income Tax

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

administrator June 17, 2016 Income Tax, ITAT, Judgments

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

administrator March 10, 2016 Income Tax, ITAT

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 …

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