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
ITAT Reduces Unexplained Cash Deposit Addition to 25%, Upholds 8% Profit Estimation and Audit Penalty u/s 44AD of Income Tax Act
Income TaxOther Legal Matters
The ITAT reduced the unexplained cash deposit addition but upheld profit estimation and audit penalty. This decision reflects a balanced approach to dealing with unexplained cash deposits. It acknowledges the need for both scrutiny and fairness in tax assessments.
