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
← back
Informative
Only Profit Element Taxable as Sales and Manufacturing Activity is Not Disputed: ITAT upholds...
Income TaxOther Legal Matters
The ITAT has ruled that "only the profit element is taxable" as a "sales and manufacturing activity is not disputed," upholding a restriction of a disallowance to 12.5% on bogus purchases. The tribunal's decision provides a significant victory for the taxpayer. The ruling clarifies that a tax authority cannot disallow a purchase without a valid reason.
