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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Win for WOW Entertainment: ITAT Deletes ₹1.44 Cr S.68 Addition Over Denial of Cross-Examination and Proven Loan Genuineness
Appeal Against OrderIncome Tax
The ITAT (Income Tax Appellate Tribunal) deleted a ₹1.44 crore addition under Section 68 of the Income Tax Act for Wow Entertainment, citing the denial of cross-examination and proven genuineness of the loan. Section 68 deals with unexplained cash credits. The tribunal found that the Assessing Officer's addition was unsustainable as the assessee was not allowed to cross-examine the lender, and the genuineness of the loan transaction was otherwise established with proper documentation.
