Section 40A(3) applies to revenue expenditure, not to capital investment: Delhi HC PCIT Vs Sanskar Homes Pvt. Ltd. (ITA No.4430/DEL/2016) Facts: 1. M/s Sanskar Homes Pvt. Ltd. purchased floors in a property located in New Delhi, making cash payments totaling Rs. 7.74 crore. 2. The Assessing Officer disallowed this amount under Section 40A(3), which…
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