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Applicability u/s 40A(3) - payments made in cash by the assessees to MSRTC for purchase of scrap in auction - no disallowance can be made u/s.40A(3) where genuineness of payment is not doubted. - Tri

Income Tax - Applicability u/s 40A(3) - payments made in cash by the assessees to MSRTC for purchase of scrap in auction - no disallowance can be made u/s.40A(3) where genuineness of payment is not doubted. - Tri - TMI Tax Updates - Highlights .....

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