Will disallowance under section 40A(3) will be attracted in the following case?
Mr.X purchases sum materail three times in a day from Mr.Y. (say 0on 19/01/2011)
Y gave thre bills of 18,000 , 15,000 and 15,000.
X makes the payment to all the three bills on same day.
Will it be disallowed as the total amount exceeded 20,000 / not disallowed as the individual expenditure does not exceed 20000.
different buks gave different opinions.
please share ur views.