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 Quashes ₹84 Lakh Addition Made u/s 69A, accepts Assessee’s Explanation on Cheque Discounting for Working Capital
Appeal Against OrderIncome Tax
ITAT quashed a ₹14 lakh addition made under Section 69A of the Income Tax Act, accepting the assessee's explanation regarding cheque discounting for working capital. Section 69A deals with unexplained money. The tribunal found the assessee's explanation for the discounted cheques, related to their working capital needs, to be satisfactory, thus deleting the addition.
