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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Informative
Gold Loan Account Records and Bank Records validates Gold Loan Business: ITAT deletes Addition of Cash Withdrawals u/s 69C
Income Tax
The ITAT deleted an addition under Section 69C for alleged unexplained expenditure, after finding that gold-loan account and bank records substantiated the legitimacy of cash withdrawals. The Tribunal held that documented transactions linked to regular business operations could not be treated as unexplained. This highlights the importance of consistent financial documentation in avoiding adverse tax consequences.
