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Payment made in cash for old truck

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(Querist)
23 February 2013 Dear sir,

We are a LTD Co. and purchased an old truck by rs. 1150000/- and issued a cheque Of Rs. 500000/- and balance payment made by us Rs. 150000/- in cash and remaining th. cheque. My question is Rs. 150000 is allowable or not ?
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@VaibhavJ

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@VaibhavJ (Expert)
23 February 2013 Hi,

Since it is capital expenditure & not revenue so dis-allowance is not attracted.

Thanks!!
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Guest (Expert)
23 February 2013 YES,

YES IT IS ALLOWABLE ALWAYS.......

SINCE SEC 40(A)(3) WILL NOT BE APPLIED
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@VaibhavJ

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@VaibhavJ (Expert)
23 February 2013 Thanks for confirmation Ashishji.

Thanks!!
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Vardan Singh

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Vardan Singh (Querist)
23 February 2013 THANKS TO VAIBHAV SIR AND ASHISH SIR

REGARDS

FOR JAGDISH CIONSTRUCTION LTD.

VARDAN SINGH
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@VaibhavJ

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@VaibhavJ (Expert)
23 February 2013 Thanks for Acknowledgement.

Cheerz!!

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