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Income Tax - Highlights / Catch Notes

Home Highlights October 2018 Year 2018 This

Addition u/s 40A(3) - cash payments made through the agents of ...

Income Tax

October 29, 2018

Addition u/s 40A(3) - cash payments made through the agents of suppliers - purchase of building materials for the purpose of construction - assessee is able to provide the bonafide and genuineness of transaction - No additions.

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  1. Addition u/s 40A(3) - Payment not made in cash but paid to third parties on behalf of supplier of goods – AO was not justified in invoking the section 40A(3) - AT

  2. Disallowance u/s 40A(3) - cash payment - There is no case of addition of section 40A(3) with regard to purchases that were made on account of capital items - AT

  3. Disallowance of cash payments u/s 40A(3) - making additions by invoking the provisions of section 40A(3) of the Act amounts to double additions which is not permissible...

  4. Payment of expenditures in cash - payment to the Government undertaking for supply of electricity are not covered by the provisions of section 40A(3) - addition made by...

  5. Addition u/s 40A(3) - cash purchases of the liquor from suppliers - The cash transactions, in any case, have been subjected to TCS collections etc. and are thus duly...

  6. Violation of section 40A(3) - payment in cash in excess of prescribed limit for purchasing of scrap from the Railways - No disallowance - HC

  7. Disallowance of Payments made in Cash u/s 40A(3) - there is no exemption if payment made to sister concerns - AT

  8. Invocation of section 40A(3) - Octroi was paid to the Ahmedabad Municipal Corporation – Cash payment - payment does not come within the provisions of section 40A(3) read...

  9. Applicability of section 40A(3) – Payment made of bottling charges - Rule 14 of the Karnataka Licenses General Condition Rules, 1967 mandates cash payment or not - Held No - HC

  10. Disallowance u/s 40A(3) - payment in case for purchase of recharge vouchers from Tata Teleservices Limited - payments were genuine - rigors of section 40A(3) / Rule 6DD...

 

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