Construction Costs Reviewed: Section 40A(3) Targets Cash Payments, Not Authenticity; No Disallowance u/s 37(1).

Construction Costs Reviewed: Section 40A(3) Targets Cash Payments, Not Authenticity; No Disallowance u/s 37(1). https://www.taxtmi.com/highlights?id=23700 Disallowance of cost of construction - Since only provisions of 40A(3) are invoked, there is no question of treating the expenditure as 'non-genuine' as no amount was disallowed u/s. 37(1). Provisions of Section 40A(3) can only be invoked on the expenditure which was paid in cash - AT en-us Thu, 09 Jul 2015 07:21:22 +0530 Thu, 09 Jul 2015 07:21:22 +0530 TaxTMI RSS Generator Construction Costs Reviewed: Section 40A(3) Targets Cash Payments, Not Authenticity; No Disallowance u/s 37(1). https://www.taxtmi.com/highlights?id=23700 Disallowance of cost of construction - Since only provisions of 40A(3) are invoked, there is no question of treating the expenditure as 'non-genuine' as no amount was disallowed u/s. 37(1). Provisions of Section 40A(3) can only be invoked on the expenditure which was paid in cash - AT Highlights Income Tax Thu, 09 Jul 2015 07:21:22 +0530 https://www.taxtmi.com/highlights?id=23700