https://www.taxtmi.com/caselaws?id=25357 The court upheld the disallowance of Rs. 16,250 under section 40A(3) of the Income-tax Act, 1961, due to discrepancies in payment dates and non-compliance with payment methods. It affirmed that the payments made for goods constituted 'expenditure' under the Act, aiming to prevent unaccounted money in business transactions. The broad interpretation of 'expenditure' encompassed payments for goods, as defined by the Supreme Court. The specific payments to the entity were also considered as falling under 'expenditure' in section 40A(3). The court ruled in favor of the Revenue, directing each party to bear its own costs. en-us Wed, 29 Jan 1986 00:00:00 +0530 Thu, 28 Jan 2010 11:16:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25357 The court upheld the disallowance of Rs. 16,250 under section 40A(3) of the Income-tax Act, 1961, due to discrepancies in payment dates and non-compliance with payment methods. It affirmed that the payments made for goods constituted 'expenditure' under the Act, aiming to prevent unaccounted money in business transactions. The broad interpretation of 'expenditure' encompassed payments for goods, as defined by the Supreme Court. The specific payments to the entity were also considered as falling under 'expenditure' in section 40A(3). The court ruled in favor of the Revenue, directing each party to bear its own costs. Case-Laws Income Tax Wed, 29 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25357