https://www.taxtmi.com/highlights?id=47855 Disallowance u/s 40A(3) - part payment in cash in excess of the limit prescribed u/s 40A(3) for purchase of land - since it forms part of stock and trade the provisions of Section 40A(3) comes into operation - Ld. Counsel for the Assessee in his capacity as Officer of the court stated that he will give an undertaking that the impugned amount will not be claimed as expenditure in subsequent years against the revenue/gross turn over - disallowance deleted en-us Thu, 11 Jul 2019 07:51:15 +0530 Thu, 11 Jul 2019 07:49:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47855 Disallowance u/s 40A(3) - part payment in cash in excess of the limit prescribed u/s 40A(3) for purchase of land - since it forms part of stock and trade the provisions of Section 40A(3) comes into operation - Ld. Counsel for the Assessee in his capacity as Officer of the court stated that he will give an undertaking that the impugned amount will not be claimed as expenditure in subsequent years against the revenue/gross turn over - disallowance deleted Highlights Income Tax Thu, 11 Jul 2019 07:51:15 +0530 https://www.taxtmi.com/highlights?id=47855