{"id":29850,"date":"2022-09-17T18:55:14","date_gmt":"2022-09-17T13:25:14","guid":{"rendered":"https:\/\/itatonline.org\/digest\/vikrant-happy-homes-pvt-ltd-v-dcit-2022-the-chambers-journal-may-p-82-ahd-trib\/"},"modified":"2022-09-17T18:55:14","modified_gmt":"2022-09-17T13:25:14","slug":"vikrant-happy-homes-pvt-ltd-v-dcit-2022-the-chambers-journal-may-p-82-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/vikrant-happy-homes-pvt-ltd-v-dcit-2022-the-chambers-journal-may-p-82-ahd-trib\/","title":{"rendered":"Vikrant Happy Homes Pvt Ltd v. DCIT ( 2022) The Chamber\u2019s Journal -May \u2013 P. 82 ( Ahd ) ( Trib)"},"content":{"rendered":"<p>The assessee engaged in the business of real estate purchased\u00a0 certain portion of lands in cash\u00a0 which was added to work in progress . The AO disallowed the said payment by invoking provision of section 40A(3) of the Act . On appeal CIT(A) affirmed the view of the AO. On appeal to the Tribunal the Tribunal held that the expenditure incurred was not claimed as deduction hence disallowance was deleted . ( ITA No. 2856\/Pun\/2016\u00a0 dt . 11-1 -2022 )( AY. 2012-13 )\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 40A(3) :Expenses or payments not deductible &#8211; Cash payments exceeding prescribed limits \u2013 Land purchase \u2013 Real estate business- Expenditure added to closing work in progress &#8211;  No disallowance can be made .[ S. 145 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-29850","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7Ls","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29850"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29850\/revisions"}],"predecessor-version":[{"id":29851,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29850\/revisions\/29851"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}