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Disallowance Under Section 40A(3)

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(Querist)
02 September 2008 My Client Deposited CASH Rs. 50,000, Rs. 80,000 and Rs. 1,00,000 on different dates into his creditors bank account using the core banking facility. Is this amount of payment to the creditors is entitled for disallowance under section 40A(3).
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Jitender

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Jitender (Expert)
02 September 2008 yes,it is disallowed if it is not paid through account payee cheque or bank draft or through e-payment.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
03 September 2008 Yes, I agree with Mr. Jitender; It is disallowable.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
07 September 2008 NO. PLEASE REFER SRI RENUKESWARA RICE MILLS Vs ITO (2005) 278 ITR 77 (Bang-Tri)
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