Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

Disallowance u/s 40(a)(ia) not applicable if exp. wasn't claimed as deduction while calculating taxable income

Disallowance u/s 40(a)(ia) not applicable if exp. wasn't claimed as deduction while calculating taxable income
Refer:[2018] 99 taxmann.com 82 (Bombay)

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