Tribunal held that where the assessee has made cash payments exceeding prescribed limits in respect of purchase of capital asset or investment, no disallowance can be made. (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.