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Income Tax - Highlights / Catch Notes

Home Highlights April 2015 Year 2015 This

Addition made under section 40A(3) - cash payment greater than ...

Income Tax

April 7, 2015

Addition made under section 40A(3) - cash payment greater than ₹ 20,000/- - Single voucher was prepared to book the amount which does not mean that entire payment was made in a single day. - AT

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  4. Disallowance u/s 40A(3) - 20% of the expenditure made in cash - payment made towards advance - decided in favor of assessee - AT

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  9. Disallowance u/s 40A(3) – purchase of bricks for Rs. 2,52,000/- though made in cash but each voucher was for below Rs. 20,000/- section 40A(3) will not apply - AT

  10. Disallowance u/s 40A(3) - assessee, who is the appellant, is a government contractor showed payments exceeding Rs. 20,000/- in cash on various dates for materials...

 

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