Thursday, December 17, 2020

Deposit of cash exceeding limit prescribed u/s 40A(3) in supplier's bank account attract disallowances

INCOME TAX : Where assessee made cash payments exceeding prescribed limit in supplier's bank account which were not routed through any clearing house or electronic transfer, such payments were to be disallowed

from www.taxmann.com Latest Case Laws https://ift.tt/3my0I64
-
Labels:

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

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...