BUSINESS DISALLOWANCE – CASH PAYMENT EXCEEDING PRESCRIBED LIMITS

SECTION 40A(3)

[2016] 74 taxmann.com 87 (Madras)

 

Where assessee did not offer any explanation as to why expenditure in cash had been incurred for first time during relevant year, while similar expenditure was not reflected at all in preceding four years, particularly, when there was no change in line of business activity of assessee, all these years, Assessing Officer rightly discredited expenditure incurred in cash -