https://www.taxtmi.com/caselaws?id=37859 The expression "expenditure" in section 40A was construed broadly and not as limited to overhead expenses under sections 30 to 43A. Payments for purchase of raw materials or stock-in-trade in the course of manufacturing or trading were treated as expenditure, so cash payments above the statutory limit were liable to disallowance. The Tribunal's narrower view was rejected because it conflicted with an earlier binding decision of the same HC. The question was answered in favour of the Revenue and against the assessee. en-us Thu, 09 Mar 1978 00:00:00 +0530 Thu, 01 Apr 2010 14:22:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37859 The expression "expenditure" in section 40A was construed broadly and not as limited to overhead expenses under sections 30 to 43A. Payments for purchase of raw materials or stock-in-trade in the course of manufacturing or trading were treated as expenditure, so cash payments above the statutory limit were liable to disallowance. The Tribunal's narrower view was rejected because it conflicted with an earlier binding decision of the same HC. The question was answered in favour of the Revenue and against the assessee. Case-Laws Income Tax Thu, 09 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37859