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40(a((3)
Direct Taxation
As per the section, with the below scenario, 40(a)(3) applicable? Assesee have a purchase of Rs.13000 with a single bill, he makes payments by cash Rs.9000 and Rs.4000 between two days not do in a single day. In this scenario Sec.40(a)(3) applicable?
Answers (3)
CA Suraj Lakhotia Admin
Courts have held that in such cases since the assessee is trying to circumvent the provisions of 40A(3), it would be disallowed. Otherwise the purpose of the section itself is defeated.
Thanks, sir. As per section is allowed or disallowed without connecting the tribunal.
Thread Starter
Balamurali Unnithan M SThanks, sir. As per section is allowed or disallowed without connecting the tribunal.
Any rule/section/provision of law / act is read along with related case laws/ tribunal / court judgements and never in isolation
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