Allowing the appeal of the assessee the Tribunal held that ; transactions between assessee and its group concerns for repayment of debt to group concern and not for any expenditure incurred and same had not been debited in profit and loss account therefore addition was held to be not justified .( AY. 2008 -09)
Saamag Developers (P.) Ltd. v. ACIT (2018) 168 ITD 649 (Delhi) (Trib.)
S. 40A(3) :Expenses or payments not deductible – Cash payments exceeding prescribed limits -Repayment of debt to group concern and expenditure was not debited in profit and loss account, addition cannot be made .