https://www.taxtmi.com/highlights?id=53440 Addition u/s 40A(3) being 20% of the amount paid - assessee was acquiring the land from the various farmers by paying cash to them and debiting it to the capital work in progress account. This sum was not claimed as an “expenditure‟ in the profit and loss account. - The whole transaction of purchase of land as well as transfer to the sister concern was not routed through profit and loss account but were shown in the balance sheet. - No additions. en-us Wed, 20 May 2020 09:53:29 +0530 Wed, 20 May 2020 09:53:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=53440 Addition u/s 40A(3) being 20% of the amount paid - assessee was acquiring the land from the various farmers by paying cash to them and debiting it to the capital work in progress account. This sum was not claimed as an “expenditure‟ in the profit and loss account. - The whole transaction of purchase of land as well as transfer to the sister concern was not routed through profit and loss account but were shown in the balance sheet. - No additions. Highlights Income Tax Wed, 20 May 2020 09:53:29 +0530 https://www.taxtmi.com/highlights?id=53440