Cash Land Purchase Disallowed u/s 40A(3) of Income Tax Act for Business Income Classification.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of expenditure incurred on the acquisition of the land made in cash u/s 40A(3) - the income having been held taxable under the head “income from business or profession” the disallowance under section 40A(3) of the Act, we hold, has been rightly made. - AT....