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High Court Rules Section 40A(3) Inapplicable for Assessee Acting as Agent, No Disallowance for Cash Payments Over Rs. 20,000.

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....Addition u/s 40A (3) - cash payment in excess of Rs. 20,000 - assessee was only an agent of RCIL and therefore question of any disallowance in the hands of the assessee was not attracted. - HC....

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High Court Rules Section 40A(3) Inapplicable for Assessee Acting as Agent, No Disallowance for Cash Payments Over Rs. 20,000.