Disallowance u/s 40A(3)
This query is : Resolved
27 February 2009
My client depositing cash directly into the purchasers bank account. will it be allowed or disallowed u/s 40A(3)
27 February 2009
It can be allowed. Citation:- Sri Renukeswara Rice Mills Vs ITO(2005)278 ITR (AT)77(Bang-Tri)
27 February 2009
In my opinion also, it should be allowed since it is payment through banking channels.
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