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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ITAT Permits Schindler India to Exclude ₹1.09 Crore Written-Off from Book Profits noting it was...
Income TaxOther Legal Matters
The ITAT has allowed "Schindler India" to exclude a "₹3 crore written-off" from its "book profits," noting it was an "actual bad debt." The tribunal's decision, which is a significant victory for the taxpayer, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a tax authority can't add a tax to a company's account without a valid reason.
