Expenditure made in Cash Payments to Agriculturists / Farmers for purchase of land should be Disallowed: Karnataka High Court [Read Judgment]

The Karnataka High Court upheld the order of the Tribunal disallowing the expenditure under Section 40A(3) of the Income Tax Act, 1961 in respect of cash payments made by the assessee to the agriculturists/farmers for the purchase of land. The assessee, M/s Nam Estates Pvt. Ltd. is a private limited company registered under the Companies […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2SiPAx8