Addition u/s 40A(3) - cash purchases of the liquor from ...

Income Tax

June 19, 2023

Addition u/s 40A(3) - cash purchases of the liquor from suppliers - The cash transactions, in any case, have been subjected to TCS collections etc. and are thus duly made chargeable to tax in the hands of the recipient. No enquiries have been made on behalf of the Revenue to dislodge the bona fides of the cash purchases. - Case made out on behalf of the assessee for exoneration from the clutches of Section 40A(3) - AT

View Source

← Previous Next →

Addition u/s 40A(3) - cash purchases of the liquor from ...

Income Tax

June 19, 2023

You may also like:

Disallowance u/s 40A(3) - depositing cash in bank account of supplier - the purpose of Section 40A(3), is only preventive and to check tax evasions and flow 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...

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

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

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...

Addition u/s 40A(3) - Bogus purchases - there is no evidence whatsoever available on record to show that the said purchases were actually made by the assessee from the...

Addition as cash receipts and cash payment - the tax auditor reported these two items of cash receipt and cash payment shown under the column of loan and deposits...

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...

Revision u/s 263 - Cash payments towards purchase of capital goods - Violation of the provisions of section 40A(3) - PCIT himself could have examined the impugned...

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 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...

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...

Addition u/s 40A(3) - direct despot of cash in the bank account of the supplier - supplier acknowledged credited the said cash receipts in the ledger account of the...

Addition u/s 40A(3) - cash payments made against purchases of liquor exceeding ₹ 20,000/- - the payment made by the assessee for the purchase of country liquor and...

Additions u/s 40A(3) - Purchase payments in cash in contravention to the provisions of section 40 A(3) - the assessee is merely facilitator and intermediary in the...

Quick Updates: