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Income tax 40a(3) clarification

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(Querist)
28 January 2014 provision of section 40A(3)of income tax act apply if the amount is given in cash exceeds 20000 for advances against expenses ???
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
28 January 2014 If the advances were ultimately treated for discharg­ing the liability to pay the price of the goods purchased or services rendered then 40A(3) attracts on such advances.

Citation:- Kejriwal Iron Stores Vs. CIT [1988] 169 ITR 12 (Raj).
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