[aaykarbhavan] Cash payment for purchase of scrap from railways won’t be hit by rigours of sec. 40A(3) disallowance

Cash payment for purchase of scrap from railways won't be hit by rigours of sec. 40A(3) disallowance

June 20, 2014[2014] 45 taxmann.com 403 (Karnataka)/[2014] 223 Taxman 116 (Karnataka)(MAG.)

IT : Where assessee purchased scrap from Railways (Union of India), even though cash was paid in excess of Rs. 20,000 in regard to a single transaction, expenditure in question could not be disallowed by invoking provisions of section 40A(3)

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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