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 Upholds Tax On Undisclosed Income Found In Survey
Income Tax
The Income Tax Appellate Tribunal dismissed a firm’s appeal challenging the taxability of undisclosed cash and stock detected during a survey. It held that failure to reconcile discrepancies justifies addition under Sections 68 and 69 of the Income Tax Act. The order reaffirms the principle that factual concealment attracts lawful tax penalties unless supported by credible accounting explanations.
