21 September 2008
A payment is made for purchases by depositing cash into the bank account of the seller by the buyer, if exceeds Rs 20000/- will that be liable to be disallowed under Section 40A(3) of Income Tax? Pls Advise
23 September 2008
THanks for your replies. THough I'd similar views athat of Mr S.Srinivasaraghavan, however, the fact brought by Mr Chakrapani is enlightening.
Mr Chakrapani, can u please provide the case digest. Also if there was a appeal to the tribunal decision, pls provide dtails.
CAclubindia
