TMI BlogDisallowance u/s 40A(3) - AO opined that banker’s cheques were not covered in any of the provisions of...Disallowance u/s 40A(3) - AO opined that banker’s cheques were not covered in any of the provisions of Rule 6DD of the Income Tax Rules as they were the account payee demand drafts u/s 40A(3) - the expression used in the Income Tax itself is “a bill of exchange”, which is a class of instruments, that cannot be ignored or disallowed by virtue of Section 40A(3) read with Rules 6 DD of the Income Tax Rules - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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