Held that as the amount paid for purchase of land was neither debited to the profit and loss account nor claimed as expenditure in the computation of taxable income as the assessee had got reimbursements of the amounts paid for purchase of land, the disallowance was held to be not justified (AY. 2006-07, 2007-08)
Green Valley Tower Pvt. Ltd. v. ACIT (2021) 86 ITR 1 (Delhi)(Trib.)
S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits-Purchase of land-Not debited to profit and loss account-Disallowance cannot be made.