Tag Archives: Section 40A(3)

Cash payments exceeding Limits to truck drivers allowed to Taxpayer if No Banking Facility in Village: ITAT

By | March 17, 2020

The Ld. A.O. has not found any fault with the payment nor has disbelieve the payment made for the coal suppliers who are duly registered with the VAT department. The payment has not been doubted by the A.O. or by the Ld. CIT(A), hence looking to the facts that the payments were made after the… Read More »

No Disallowance U/S 40A(3) if cash payment made on Seller’s Insistence : ITAT

By | March 2, 2019

ITAT Indore DCIT Vs M/s. Brilliant Sare Reality Pvt. Ltd. Appeal Number : IT(SS)A No. 44/Ind/2015 This appeal and cross objection pertaining to the assessment year 2007-08 have filed by the revenue and the assessee against order of the Commissioner of Income Tax (Appeals)-I, Indore dated 22.10.2014. 2. In cross objection the assessee has raised… Read More »

Section 40A(3) will not hit if purchase from single person and value of each invoice is less than Rs 20000

By | October 4, 2015

If purchase is effected from a single person by way of several bills/invoices and if value of each bill/invoice is less than Rs. 20,000 then payments made to settle each bill/invoice would not be hit by provisions of section 40A(3), as each bill/invoice has to be considered as a separate contract IN THE ITAT COCHIN… Read More »