Section 40(3a)
This query is : Resolved
sagar kotak
(Querist)
24 September 2015
Assessee purchased milk of rs 1,50,000 on daily basis form Rajkot District Cooperative Milk Producers' Union Ltd.(RDCMPULtd.) Assesse directly deposited the amount of purchase to the bank account of Rajkot District Cooperative Milk Producers' Union Ltd.(RDCMPULtd.) through CASH so the amount paid to the Rajkot District Cooperative Milk Producers' Union Ltd.(RDCMPULtd.) is considered as a contravention of under sub-section (3A) of section 40A or not.??? Site Address of Rajkot District Cooperative Milk Producers' Union Ltd.(RDCMPULtd.) https://www.rajkotunion.coop/index.php
Amol S Joglekar
(Expert)
24 September 2015
It is NOT the contravention of the said section. The transaction is the REGULAR course of purchases for the business.
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