CBDT Circular on payments made during the period when cheque clearing operations by banks suspended

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Payment made during the period when cheque clearing operations by banks suspended – Whether covered under sub-section (3)

CLARIFICATION 1

Circular : No. 250 [F. No. 206/1/79-IT(A-II)], dated 11-1-1979.

1. Representations have been received from the members of public, chambers of commerce, etc., pointing out the hardship resulting from the operation of the provisions of section 40A(3) in view of the difficulties in clearance of cheques issued on banks.

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