Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Chit Fund Company's Appeal Dismissed: ITAT Upholds 90% Disallowance for Lack of Evidence on Commission Payments
Income TaxOther Legal Matters
The ITAT has upheld a 90% disallowance for a "chit fund company's appeal" due to a "lack of evidence on commission payments." The tribunal’s decision provides a significant victory for the government, as it clarifies a key aspect of tax law. The ruling states that an expenditure incurred for a business purpose is a deductible expense only if there is a valid document.
