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Cash payment 40a(3)

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Querist : Anonymous (Querist)
22 June 2014 If an assessee makes payment of Rs. 600000/- for purchase of machinery in cash then deprication is disallowed for one year or every year.
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CA Rinkal

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CA Rinkal (Expert)
23 June 2014 dear



there is exception to this section regarding payment in cash

one is that purchase of machinery.


so there is no matter of disallow of depreciation in case of machinery purchase by cash.
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