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Section 40(A)(3)

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(Querist)
26 February 2011 In an audit of Pvt. Ltd. Rs.25000 was directly deposited into the Bank account for petty cash. Whether the same attracts Section 40(A)(3)?

I suggested them to split the entry into two transaction each of12500. Whether the solution is correct or is there any other solution?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
26 February 2011 If cash was deposited in bank and no expenses were booked i. e. cash in hand deposited in bank then no disallowance u/s 40A(3) called for.
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