Application on Section 40A(3) of the Income Tax Act, 1961 regarding cash payments to agriculturists/farmers: Karnataka HC

Last updated: 10 October 2020
Quick Summary
The Karnataka High Court has considered an appeal concerning Section 40A(3) of the Income Tax Act, 1961, which relates to the disallowance of expenses paid in cash exceeding a certain limit. The case specifically addresses payments made to agriculturists and farmers. The court was asked to formulate substantial questions of law and potentially set aside a previous order by the Income Tax Appellate Tribunal.

Court :
ITAT Karnataka

Brief :
This ITA is filed under section 260-a of I.T. Act, 1961 arising out of order dated 14.08.2013 passed in ITA no.878/bang/2012 for the assessment year 2007-08,praying that this hon’ble court may be pleased to:

Citation :
I.T.A. NO.534 OF 2013

In The High Court Of Karnataka At Bengaluru

Dated This The 28th Day Of September 2020

Present

The Hon’ble Mr. Justice Alok Aradhe

And

The Hon’ble Mr. Justice M.I.Arun

I.T.A. No.534 Of 2013

Between:

M/S Cutchi Memon Union

No.62-63, 1st Floor

Chick Bazar Road

Shivajinagar

Bangalore – 560 001

 Appellant

(By Sri.Ashok A Kulkarni, Adv.,)

And:

The Deputy Director Of Income Tax (Exemptions)

Circle – 17(1), Bangalore.

Respondent

(By Sri.K.V.Aravind, Adv.)

This ITA is filed under section 260-a of I.T. Act, 1961 arising out of order dated 14.08.2013 passed in ITA no.878/bang/2012 for the assessment year 2007-08,praying that this hon’ble court may be pleased to:

(i) Formulate The Substantial Questions Of Law Stated Therein.

(ii) Allow The Appeal And Set Aside The Order Passed By The Itat, Bangalore In Ita No.878/Bang/2012 Dated 14.08.2013 And Suitably Modifying It As Soughti N The Appeal.

To know more in details find the attachment file

FAQ :

The judgement primarily discusses Section 40A(3) of the Income Tax Act, 1961, which governs the deductibility of expenses paid in cash.

The appeal was between M/S Cutchi Memon Union and The Deputy Director Of Income Tax (Exemptions) Circle – 17(1), Bangalore.

The case concerned cash payments made to agriculturists or farmers.

The appeal was heard by The High Court Of Karnataka At Bengaluru.

The appeal sought to set aside the order dated 14.08.2013 passed by the ITAT, Bangalore in ITA No.878/Bang/2012.

 

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