Addition u/s 40A(3) - Payments made otherwise than by an account ...

Income Tax

May 19, 2023

Addition u/s 40A(3) - Payments made otherwise than by an account payee cheque - It is admitted case of assessee that to one of the parties even payments were made by RTGS/NEFT. So there is no question of lack of banking facilities available with the assessee or that when the payments were made such facility was not accessible. - When the provision of Section 40A(3) is made in the Act with specific intention to discourage colourable payments then the Ld. Tax Authorities below cannot be expected to accept such casual explanations. - AT

View Source

← Previous Next →

Addition u/s 40A(3) - Payments made otherwise than by an account ...

Income Tax

May 19, 2023

You may also like:

Disallowance u/s 40A(3)(a) of the Act – Payment made otherwise than by account payee cheque - endorsement of crossed cheque - disallowance confirmed - HC

Addition u/s 40(A)(3) - payment was made otherwise then by account payee cheque - assessee failed to prove - addition confirmed - HC

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...

Addition made u/s 40A(3) - payment through bearer cheques - payment made otherwise than by cheque or crossed cheque - since the entries in the bank statement reflects...

Addition u/s 40A(3) - allegation of making huge cash payments in excess of Rs. 20,000/- As per the assessment order made u/s 144, no books of accounts were produced - in...

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

Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

Addition u/s 40A(3) - purchases made otherwise than by account payee cheque - Genuineness of expenses - Even if the petitioner’s/assessee’s case fell within the ambit of...

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...

Addition u/s 40A - Cash expenditure exceeding the threshold of Rs. 20,000/- - The appellant/assessee argued that the payments made through supervisors, who were...

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...

Addition u/s 40A(3) - cash payments were made to truck drivers after banking hours - even this amount should not have been disallowed u/s 40A(3) read with Rule 6DD of...

Disallowance u/s 40A(3) - AO opined that banker’s cheques were not covered in any of the provisions of Rule 6DD of the Income Tax Rules as they were the account payee...

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...

Disallowance u/s. 40A(3) - payment made to the truck drivers in cash - Where cash payments are made under bonafide conditions and no doubt is raised over genuineness of...

Quick Updates: