Disallowance u/s 40A(3)

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Rakesh (Querist)
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27 February 2009 My client depositing cash directly into the purchasers bank account. will it be allowed or disallowed u/s 40A(3)

Bhaskaran Chackrapani Warrier (Expert)
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27 February 2009 It can be allowed. Citation:- Sri Renukeswara Rice Mills Vs ITO(2005)278 ITR (AT)77(Bang-Tri)

CA Nitin Wadhwani (Expert)
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27 February 2009 In my opinion also, it should be allowed since it is payment through banking channels.

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