Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Addition u/s 40A(3) - cash payment for the purchase of land - On ...


Section 40A(3) Exception: Cash Payment for Land Purchase Allowed Due to Public Holiday u/r 6DD.

July 19, 2019

Case Laws     Income Tax     AT

Addition u/s 40A(3) - cash payment for the purchase of land - On the day of transaction, purchaser demanded cash - registration of land took place in the afternoon of 07-03-2009 that the day happens to be Saturday followed by public holiday Sunday - fall under exception as per Rule 6DD - no addition

View Source

 


 

You may also like:

  1. 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...

  2. Addition u/s.40A(3) - Purchases made in Cash - assessee has purchased gold and silver through staff at villages, on Sunday/bank holidays, exchange value of old gold and...

  3. 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...

  4. Mere disallowance of expenses u/s 40A(3) would not invite penalty for concealing or furnishing inaccurate particulars of income. Assessee disclosed all particulars...

  5. ITAT allowed taxpayer's appeal, finding cash payments for land purchase were genuine business transactions. The tribunal determined payments were made out of commercial...

  6. 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...

  7. Addition u/s 40A(3) - payments in cash towards purchases - ld.AR claimed that the payments were covered under the exception of Rule 6DD of the Income Tax Rules, 1962,...

  8. 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...

  9. Addition u/s 40A(3) - cash purchases of petrol - Assessee was in the habit of purchasing petrol regularly - Assessee has not produced any documentary evidences to...

  10. Addition u/s 40A(3) - payment of expenditure in cash - Cash payments made to West Bengal State Electricity Distribution Company Limited (WBSEDCL) is covered by the...

  11. 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...

  12. Disallowance u/s 40A(3) - Payment in cash in excess of Rs. 20,0000 - exception under rule 6DD - purchase of marble chips and alluminium product cannot be said to be an...

  13. Disallowance u/s 40A(3) - cash payment for purchase of land - assessee has filed necessary evidences to prove that the impugned land has been acquired as an investment...

  14. 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

  15. Revision u/s 263 by CIT - addition u/s 40A ignored by AO - expenses have been incurred in cash exceeding Rs. 20,000/- per day - AO is expected to examine the provisions...

 

Quick Updates:Latest Updates