Addition u/s.40A(3) - Purchases made in Cash - assessee has ...

Income Tax

April 13, 2021

Addition u/s.40A(3) - Purchases made in Cash - assessee has purchased gold and silver through staff at villages, on Sunday/bank holidays, exchange value of old gold and silver and petty purchases, no doubt the assessee has violated the provisions of Section 40A(3) of the Act but there are some instances under which the assessee may get relief as per sub-rule (k) of Rule 6DD of I.T.Rules, 1962. - AT

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Addition u/s.40A(3) - Purchases made in Cash - assessee has ...

Income Tax

April 13, 2021

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