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Section 40A(3)
Consider a case, where the purchases have been made from a party say, X. However, the sum payable in excess of Rs. 20,000/- was paid to Y on instructions of X by an account payee cheque. Should the purchases be allowed as an expense under PGBP, since the payment is made to person other than the sellor?
Replies (6)
as payment is made by an account payee cheque hence the expenses were allowable under PGBP even if payment made to the third party on the instructions of seller.
will be allowed in pgbp...will be allowed if made not even by cheque as the sum does not exceed 20000
will be allowed in pgbp...will be allowed if made not even by cheque as the sum does not exceed 20000
will be allowed in pgbp...will be allowed if made not even by cheque as the sum does not exceed 20000
will be allowed in pgbp...will be allowed if made not even by cheque as the sum does not exceed 20000
Is there any case law on this matter?
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