Cash Paid to Sundry Creditor on Supply Buffalo meat cannot be Disallowed u/S 40A(3) of the Act: ITAT sets aside Assessment Order

By Aparna. M - On April 18, 2023 12:18 pm - 2 mins read
Cash Paid - Sundry Creditor - Buffalo meat - ITAT - Assessment Order - Assessment - Income Tax - Tax - Taxscan

In a recent case, the Delhi Income Tax Appellate Tribunal (ITAT) held that cash paid to sundry creditor on supply of buffalo meat could not be disallowed under Section 40A(3) of the Income Tax Act, 1961 and set aside the assessment order passed by the lower authority. The assessee, Fazal Frozen Food (P) Ltd. engaged…

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