TaxTMI 
TaxTMI 
TaxTMI 
40A(3) payments
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....0A(3) payments<br> Query (Issue) Started By: - LAKSHMISH IYENGAR Dated:- 27-12-2010 Last Reply Date:- 22-6-2011 Income Tax<br>Got 1 Reply<br>Income Tax<br>Sir, My client is a trader is APMC yard and h....
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....e buys food grains from agriculturists and sells the same to different dealers. The goods will be sent to other states in the country. In the entire year on 7 occasions he has made payments in excess ....
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....of Rs.20,000/- by way cash to truck drivers to transport the goods. The same amount is mentioned in the sale bills and the money is recovered from the buyers. In the books of accounts freight charges ....
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....are debited and parties accounts are credited as freight charges. While concluding the assessment the assessing officer has made an addition of Rs.1,27,000/- u/s. 40A(3) stating that as the payments a....
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....re made by cash the expenses are disallowed. Sufficient proof was produced at the time of hearing still it was not accepted. Now I have filed an appeal and I have quoted Allahabad HC. CIT Vs. Rajs Pal....
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.... Automobiles (2009 (6) TMI 565 - ALLAHABAD HIGH COURT). I request you to through some more light on this issue. Regards. Reply By Surender Gupta: The Reply: In addition you may visit this case: G.....
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....A. Road Carriers Versus Income-tax Officer, Ward-I, Nizamabad (2010 -TMI - 203699 - ITAT, HYDERABAD) This case is a landmard decision and may help you a lot.<br> Discussion Forum - Knowledge Sharing ....
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