Revision u/s 263 by CIT - As per CIT there is violation of ...

CIT Revises AO's Decision for Overlooking Section 40A(3) Violation on Cash Payments Exceeding Rs. 20,000 Per Day.

October 30, 2022

Case Laws Income Tax AT

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 in a day are aggregated , then the total cash payment in a day to a particular party/creditor is exceeding Rs. 20,000/- - Assessing Officer has not considered the issue in proper perspective and there is no estoppels against law. - AT

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Revision u/s 263 by CIT - As per CIT there is violation of ...

CIT Revises AO's Decision for Overlooking Section 40A(3) Violation on Cash Payments Exceeding Rs. 20,000 Per Day.

October 30, 2022

Case Laws Income Tax AT

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