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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Disallowance u/s 56(2)(viib) Invalid Despite Evidence of Creditworthiness: ITAT upholds CIT(A) Order
Corporate ComplianceIncome Tax
ITAT upheld a CIT(A) order deleting an addition under Section 56(2)(viib) despite evidence of creditworthiness. The tribunal ruled that mere suspicion without concrete evidence cannot justify disallowance. The judgment underscores the importance of substantiating allegations with factual data in tax disputes.
