Addition u/s 40A(3) - cash payments in excess of the limit ...

Section 40A(3) Not Violated: Daily Cash Payments Below Rs. 20,000 Per Party, Settled on Different Dates.

May 8, 2019

Case Laws Income Tax AT

Addition u/s 40A(3) - cash payments in excess of the limit prescribed - each payment, on each day to each person was less than ₹ 20,000/- in cash - There were both purchases and sales from each of the parties and it was only the difference that was settled in cash on various dates - no violation of Section 40A(3)

View Source

← Previous Next →

Addition u/s 40A(3) - cash payments in excess of the limit ...

Section 40A(3) Not Violated: Daily Cash Payments Below Rs. 20,000 Per Party, Settled on Different Dates.

May 8, 2019

Case Laws Income Tax AT

You may also like:

The AT found evidence of hawala transactions through a recovered notebook containing daily business accounts, despite the appellant's retraction. The tribunal...

Disallowance of freight expenditure u/s 40A(3) paid in Cash - As enhanced limit of ₹ 35,000/- is applicable for the payment to the transport operators and in other...

Disallowance u/s 40A(3) - transactions and payments made in cash - assessee filed affidavits from sub-contractors of assessee firm and they insisted for cash payments to...

The Income Tax Appellate Tribunal ruled as follows: Transfer pricing adjustment u/s 92CA(3) for determining arm's length price on interest paid to a related party was...

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...

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

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

Disallowance u/s.40A(3) - expenses towards air ticket and hotel expenses in cash in excess of prescribed limit u/s.40A(3) - there is merit in arguments of the assessee...

Addition u/s 40A(3) - Cash expenditure - assessee has made payments to the land owners exceeding INR 20,000/- - The Tribunal agreed with the appellant's argument to some...

Payment of expenses in cash - Addition being cash payment in contravention to the provisions of section 40A(3) - if separate invoices have been raised in respect of each...

Disallowance of cash payments in excess of prescribed limit u/s. 40A(3) - even though few payments is covered u/s. 40A(3) of the Act, because of peculiar nature of...

Addition u/s 40A(3) - cash payment in excess of prescribed limit - Genuineness or otherwise of payment is not a criteria to exclude cash payment in excess of prescribed...

Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till...

Disallowance u/s 40A(3) r.w.r 6DD - Cash payment - as per the amended provisions, the said provisions shall apply only if the aggregate amount of payments made to single...

Revision u/s 263 by CIT - As per CIT there is violation of section 40A(3) not considered by AO - if all such vouchers reflecting cash payment to a single party/creditor...

Quick Updates: