Cash paid for Purchase excess than prescribed limit, Disallowance of total purchase U/s 40A(3) sustain: ITAT [Read Order]

Cash - purchase - ITAT - taxscan

Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the disallowance of total purchase under section 40 A(3) will sustain when cash is paid for purchases over the prescribed limit and ordered the AO to enquire into the applicability of the above-said section in the assessee’s case. The assessee challenged the order of the…

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