Payment of Rs. 22 Lakh in Cash to Wholesale Dealer attracts Disallowance u/s 40A(3): ITAT [Read Order]

Payment - Cash - Wholesale Dealer - Wholesale - ITAT - taxscan

The Chennai Bench of Income Tax Appellate Tribunal ( ITAT ) disallowed the tax deduction on grounds that an amount of 22 Lakhs payment to the whole sale dealer was made fully in cash which is contrary to the provision of Section 40A(3) of Income Tax Act, 1961. Before the bench of Mahavir Singh (Vice…

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