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Disallowance u/s 40A(3) for non-production of bills- ITAT restricts Addition at 10% of such Purchases

Velankanni Constructions Vs ACIT (ITAT Chennai) The assessee being resident firm is stated to be engaged in civil construction. The assessee could not produce bills or voucher for blue metal jelly purchase, brick purchase and sand purchase. The reasons adduced were that the assessee undertook work at remote places and was dependent on local supplies. […]

The post Disallowance u/s 40A(3) for non-production of bills- ITAT restricts Addition at 10% of such Purchases appeared first on TaxGuru.



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Disallowance u/s 40A(3) for non-production of bills- ITAT restricts Addition at 10% of such Purchases

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