KERLJ(TAX) 623, 1991 (3) SCR 405, (1991) 59 TAXMAN 11, 1992 UPTC 1 180, (1991) 3 COMLJ 58, (1991) 3 ... 3) 405
1991 SCC (4) 385 JT 1991 (3) 352
1991 SCALE (2)254
ACT:
Income Tax Act, 1961 /Income Tax Rules, 1962-- Section
40A
case, the Tribunal was right in law in holding that
Section 40A(3) applies to the payment of Rs. 33,10,194/=
deposited ... cash payments exceeding Rs. 20,000/=
would be hit by section 40A(3) of the Incometax Act, 1961 {"Act" for short
holding that addition of Rs. 40,13,000 under Section 40A(3) of the Act was wrongly deleted by the learned Commissioner of Income ... case was not covered by the exceptions to Section 40A(3) contained in Rule 6DD of the Income-tax Rules, 1962?
(2) Whether the Tribunal
made by the Income-tax Officer under Section 40A(3) of the Income-tax Act, 1961 ?"
3. The assessee, a registered firm, derives income ... draft/crossed cheques, etc., they were disallowed in view of Section 40A(3) of the Act. The alternative plea of the assessee that the payments
40A(3) was designed to counter tax evasion through such claims of expenditure in cash.
3. Therefore, obviously the provisions of Section 40A(3 ... 40A would also be applicable while determining profits and gains of business in supersession to other provisions. The constitutional validity of Section 40A(3
Whether expenses on purchases are allowable in view of s. 40A(3)
on the ground that the payments for actual purchases must have been
made ... genuine ?
(d) If the expenditure is hit by s. 40A(3), is it covered by exceptions
specified in r. 6DD(j) of the IT Rules
holding that the word 'expenditure' used in Section 40A(3) does not cover expenditure on purchases of goods ?
2. Whether, on the facts ... Tribunal was right in holding that the prohibition in Section 40A(3) was attracted even in cases of payments by book adjustments and where
felt that, in the facts and circumstances of the case, section 40A(3) of the Income-tax Act, 1961 (hereinafter referred ... claimed under the relevant provisions of the Act, provisions of section 40A(3) were not applicable; (2) the payment had to be made in cash
deletion of addition of Rs. 55 crores (added u/s 40A (3) of
the Income Tax Act, 1961 and deletion ... Disallowance u/s
1. Corporate Exim Pvt. Ltd. 2007%08 40A(3)(1)
(as per page 1 & 2
of the statement)
2. Excellent Advertising
both in law and facts in deleting the
disallowance u/s 40A(3) made at Rs.33,71,275/- by failing to
appreciate that ... trade, and was thus struck by the provisions of section
40A(3) of the Act and that the assessee cannot take shelter of
the proviso
