Cash Payments made to Agents to procure lands from Land Owners will be Covered by Exclusion Provided under Rule 6DD(k) of IT Rules r.w.s 40A(3) of Act Income Tax Act: ITAT upholds Deletion of Disallowance

Cash- Payments - Agents - lands - Land- Owners - exclusion - -Rules-Act- Income- Tax-Act-ITAT - disallowance- TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Chennai bench held that the cash payments made to agents to procure land from the land owners would be covered by the exclusion provided under Rule 6DD(k) of the Income Tax Rules read with Section 40A(3) of the Income Tax Act, 1961. Therefore, the bench upheld the deletion of disallowance…

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