40 a (3)
Querist : Anonymous
Section 40 A(3) is for expenses covered under sections 30 to 37 of the Income tax act,1961 and claimed as deduction under revenue expenditure. Further Circular no. 34 dated 05/03/1970 also says that section 40 A(3) is not applicable for purchase of a capital asset not meant for resale.
Querist : Anonymous
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