Tribunal held that cash payment exceeding prescribed limit for purchase of capital asset or investment, the provision of S.40A (3) is not attracted. (AY. 2008-09)
ACIT v. Arvind Srinivasan (2021) 86 ITR 84 (Chennai)(Trib.)
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Purchase of capital asset or investment-No disallowance can be made.