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SEC 40A(3), Income Tax

Issue Id: - 117335
Dated: 7-7-2021
By:- KUMAR Narasimhan
SEC 40A(3)

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Dear Sir/Madam,

Please clarify the below Query u/s 40A(3)

Mr. X purchased goods on credit on 01.08.2017 for ₹ 29,000. He makes payment of bills as follows:- On 02.08.2017 ₹ 10,000 On 03.08.2017 ₹ 9,000 On 04.08.2017 ₹ 10,000.

He made all 3 bills through cash payment.

Whether such an expenditure shall be allowed or disallowed u/s 40A(3)?

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1 Dated: 13-7-2021
By:- DR.MARIAPPAN GOVINDARAJAN

In my view allowed.


1

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