Section 40a(2)(b)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2015
Dear experts,
Plz guide me on this my following qurey....
Son has purchased some materials from his father, both are engaged in saparately proprietaty firm, plz let me know weather this purchase is to be disallowed in son's book of account as per section 40A(2)(B)
Thanks in advance
Atul Goyal
Plz guide me on this my following qurey....
Son has purchased some materials from his father, both are engaged in saparately proprietaty firm, plz let me know weather this purchase is to be disallowed in son's book of account as per section 40A(2)(B)
Thanks in advance
Atul Goyal
13 October 2015
No you dont have to disallow. You need to mention in form 3CD. Only if they are unreasonable you have to disallow. If you get any evidence stating they are unreasonable then disallow otherwise mention such transaction in the report.
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2015
Sir, plz explain me how to figure out weather this purchase was unreasonable or not..
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