https://www.taxtmi.com/highlights?id=62509 Revision u/s 263 - bogus liability towards purchases - payment in expenditure cash during the next year - The implications, if any, in respect of discharge of liability in cash in the subsequent financial year 2016-17, a liability which has been incurred in current financial year will arise u/s. 40A(3A) and not under section 40A(3), and the AO will be at liberty to examine the same as per law for the assessment year 2017-18 and not for the impugned assessment year 2016-17. - AT en-us Sat, 19 Mar 2022 07:36:18 +0530 Sat, 19 Mar 2022 07:36:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62509 Revision u/s 263 - bogus liability towards purchases - payment in expenditure cash during the next year - The implications, if any, in respect of discharge of liability in cash in the subsequent financial year 2016-17, a liability which has been incurred in current financial year will arise u/s. 40A(3A) and not under section 40A(3), and the AO will be at liberty to examine the same as per law for the assessment year 2017-18 and not for the impugned assessment year 2016-17. - AT Highlights Income Tax Sat, 19 Mar 2022 07:36:18 +0530 https://www.taxtmi.com/highlights?id=62509