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2011 (8) TMI 1329 - AT - Income Tax
Extract:
.......ur Bench in the case of M/s. Ace India Abodes Ltd. Vs. ACIT (supra) that provisions of Section 40A(3) are not applicable, therefore, the amount of ₹ 3,39,562/- cannot be disallowed u/s 40A(3). 4. In the result, the appeals of the assessee is allowed and that of the revenue is dismissed. The order is pronounced in the open Court on 26-08-2011.