Section 40A(3): No Disallowance for Excessive Payments If Business Expediency and Party Genuineness Are Established

Vivek Jalan , Last updated: 26 November 2024 Share Follow on Google News

Excessive payment u/s 40A(3) are not disallowed in case it can be established as follows- Payments have to be made for the assessee's business to not suffer or be hampered. Expenses that are sometimes not predictable or planned Expenses are extremely essential The nature of the assessee's

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Vivek Jalan
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Mr. Vivek Jalan is a FCA, Qualified LL.M (Constitutional Law) and LL.B. He is the Chairman of The Fiscal Affairs and Taxation Committee of The Bengal Chamber of Commerce and Industry. He is the Convenor on Indirect Taxes of the CII- Economic Affairs and Taxation Committee (ER); He is also a visiting faculty for Indirec .. Read more

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Section 40A(3): No Disallowance for Excessive Payments If Business Expediency and Party Genuineness Are Established

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