Section 40a(3) of the income tax act.

Relaxation can be given subject to teh rules mentioned in rule 6DD of teh I-T Rules. 

Dear Anoop Kumar,
There are no such exceptions for property dealer under exception of Rule 6DD of I.T.Act 1961.

To make dis-allowance u/s 40A(3), first that expense should have been debited to the Profit & Loss Account. Since, the assessee deals in property, so it is like any other good which is traded in the normal course of business. 

And hence, it willbe dis-allowed as it does not fall within the exception provided in Rule 6DD.

I agree completely with Sonam.