Payment for Grit Purchases and Carriage made through Cash excess can be allowable u/s 40A(3) based on the Nature of Business: ITAT [Read Order]

Payment - Grit Purchases - Cash excess - Business - ITAT - taxscan

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT)has held that payment for Grit purchases and carriage made through cash excess can be allowable u/s 40A(3) of the Income Tax Act,1961 based on the nature of business. Mana Ram Ganpat Ram & Co., Praveen Aggarwal & Co., the assessee is a partnership firm engaged…

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