Friday, October 4, 2019

HC deleted Sec. 40A(3) disallowance though payments were made through uncrossed demand draft

INCOME TAX: Merely because purchases were made through uncrossed demand draft, same could not be considered as bogus so as to make disallowance under section 40A(3)

from www.taxmann.com Latest Case Laws https://ift.tt/351MjqZ

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...