Home Highlights February 2014 Year 2014 This

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1. Application of section 40A(3) - purchase of mobile recharge vouchers on a wholesale basis - Involvement of cash payment – the disallowance made by the AO by invoking...

2. Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

3. Disallowance of cash payments in excess of prescribed limit u/s. 40A(3) - even though few payments is covered u/s. 40A(3) of the Act, because of peculiar nature of...

4. Disallowance u/s 40A(3) - cash payment - There is no case of addition of section 40A(3) with regard to purchases that were made on account of capital items - AT

5. Disallowance of freight expenditure u/s 40A(3) paid in Cash - As enhanced limit of ₹ 35,000/- is applicable for the payment to the transport operators and in other...

6. Disallowance u/s 40A(3) - part payment in cash in excess of the limit prescribed u/s 40A(3) for purchase of land - since it forms part of stock and trade the provisions...

7. Disallowance u/s 40A(3) - cash payments of expenditures - poor creditability in the market - genuineness of such expenditure is not in dispute - AO directed to sustain...

8. Revision u/s 263 - Cash payments towards purchase of capital goods - Violation of the provisions of section 40A(3) - PCIT himself could have examined the impugned...

9. Disallowance u/s 40A(3) - cash payments to lorry drivers - The payments is supported by ledger account of transport operators on whose behalf the payment were made to...

10. Disallowance u/s 40A(3) - cash payment exceeding ₹ 20,000 - assessee had no bank account at Cuttack and seller was insisting for cash payments - genuineness of...

11. Addition u/s 40A(3) - Bogus purchases - there is no evidence whatsoever available on record to show that the said purchases were actually made by the assessee from the...

12. Disallowance of cash payments u/s 40A(3) - making additions by invoking the provisions of section 40A(3) of the Act amounts to double additions which is not permissible...

13. Disallowance u/s 40A(3) - transactions and payments made in cash - assessee filed affidavits from sub-contractors of assessee firm and they insisted for cash payments to...

14. Disallowance u/s 40A - payment in case exceeding permissible limits - purchase of land from the farmers - payment was made on Sunday, when the banks were closed -...

15. Disallowance u/s. 40A(3) - payment made to the truck drivers in cash - Where cash payments are made under bonafide conditions and no doubt is raised over genuineness of...