https://www.taxtmi.com/highlights?id=61048 Disallowance of cash payments in excess of prescribed limit u/s. 40A(3) - even though few payments is covered u/s. 40A(3) of the Act, because of peculiar nature of business of assessee, we find that those payments cannot be considered for disallowance u/s. 40A(3) of the Act. To sum up, all payments made by the assessee for purchase of materials in excess of prescribed limit provided u/s. 40A(3) of the Act cannot be disallowed - AT en-us Tue, 21 Dec 2021 15:15:05 +0530 Tue, 21 Dec 2021 15:15:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61048 Disallowance of cash payments in excess of prescribed limit u/s. 40A(3) - even though few payments is covered u/s. 40A(3) of the Act, because of peculiar nature of business of assessee, we find that those payments cannot be considered for disallowance u/s. 40A(3) of the Act. To sum up, all payments made by the assessee for purchase of materials in excess of prescribed limit provided u/s. 40A(3) of the Act cannot be disallowed - AT Highlights Income Tax Tue, 21 Dec 2021 15:15:05 +0530 https://www.taxtmi.com/highlights?id=61048