Payment made in cash for old truck
This query is : Resolved
23 February 2013
Dear sir,
We are a LTD Co. and purchased an old truck by rs. 1150000/- and issued a cheque Of Rs. 500000/- and balance payment made by us Rs. 150000/- in cash and remaining th. cheque. My question is Rs. 150000 is allowable or not ?
We are a LTD Co. and purchased an old truck by rs. 1150000/- and issued a cheque Of Rs. 500000/- and balance payment made by us Rs. 150000/- in cash and remaining th. cheque. My question is Rs. 150000 is allowable or not ?
23 February 2013
Hi,
Since it is capital expenditure & not revenue so dis-allowance is not attracted.
Thanks!!
Since it is capital expenditure & not revenue so dis-allowance is not attracted.
Thanks!!
Guest
Guest
(Expert)
23 February 2013
YES,
YES IT IS ALLOWABLE ALWAYS.......
SINCE SEC 40(A)(3) WILL NOT BE APPLIED
YES IT IS ALLOWABLE ALWAYS.......
SINCE SEC 40(A)(3) WILL NOT BE APPLIED
23 February 2013
THANKS TO VAIBHAV SIR AND ASHISH SIR
REGARDS
FOR JAGDISH CIONSTRUCTION LTD.
VARDAN SINGH
REGARDS
FOR JAGDISH CIONSTRUCTION LTD.
VARDAN SINGH
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
