disallowance undersection 40a(3)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 November 2014
during he FY 2010-11 (tax audit limit 60 lakhs)income filed under section 44AD showing turnover around 38 lakhs, later file called for assessment, during assessment 20 lakhs added to turnover, for the difference amount i.e 20 lakhs officer charged 8% as income and tax was paid, later again file opened under section 154/155, and disallowed certain payments made through bank , but not crossed one. under section 40A(3).

My qwery: is it possible to disallow under section 40A(3) certain payments made by bearer cheques, for which i have not claimed.

as far i am concerened,i know if it was within the tax limit, then any expenditure cannot be added back to income, but after adding 20 lakhs to turnover it has exceded the tax audit limit,

kindly solve my qwery

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 November 2014 if u havent claimed such exp then its not disallowable.

Rupesh Jain

Rupesh Jain (Expert)
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25 November 2014 income u/s 44AD not addition made, when you not claimed the exp.

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