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40A[3]

This query is : Resolved 
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(Querist)
14 May 2011 AS PER CIT V/S SANTOSH JAIN CASH PURCHASES [WHETHER BEFORE OR AFTER DELIVERY] ----ABOVE SEC VIOLATED



BT IN CASE OF CREDIT PURCHASES & THEN MAKING PYMT TO CRS IN EXCESS OF 20000/- SEC SHOULD NOT BE ATTRACTED B/C IT'S NOT A P& L ITEM
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
14 May 2011 40A(3) will not attracts. But such transactions are with in the purview of section 40 A (3A) meaning thereby disallowance attracts in the year of payment.
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