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 September 2019 Year 2019 This

Cash payments made to Royal Calcutta Turf Club u/s. 40A(3) - ...


Section 40A(3) Exemption: Cash Payments to Royal Calcutta Turf Club for Genuine Business Needs in Horse Racing.

September 17, 2019

Case Laws     Income Tax     AT

Cash payments made to Royal Calcutta Turf Club u/s. 40A(3) - payment of operational expenses in relation to Horse Race - disallowance provision does not apply in case of overwhelming genuine payments coupled with business exigencies which may go beyond the prescribed rule 6DD - AT

View Source

 


 

You may also like:

  1. 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...

  2. 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...

  3. 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...

  4. 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...

  5. 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...

  6. 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...

  7. 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...

  8. 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...

  9. Disallowance u/s 40A(3) - cash payments to lorry drivers - The payments is supported by ledger account of transport operators on whose behalf the payment were made to...

  10. 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

  11. 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

  12. Disallowance u/s. 40A(3) - business expediency in payment of cash towards genuine transaction - The contention of the assessee from the day one is that the sellers...

  13. 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...

  14. Addition u/s 40A(3) - payments of expenditure in cash exceeding permeable limits - payments were made in cash for the business expediency of the assessee and as per...

  15. Applicability of provisions of Section 40A(3) in respect of unaccounted business expenses incurred in cash - Admittedly, the seized document contains unaccounted income...

 

Quick Updates:Latest Updates