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Income Tax - Highlights / Catch Notes

Home Highlights March 2015 Year 2015 This

Disallowance of a portion of the weaving charges paid - The law ...


Weaving Charges Disallowance Overturned: Properly Maintained Accounts Render Law of Averages Approach Unjustifiable.

March 27, 2015

Case Laws     Income Tax     HC

Disallowance of a portion of the weaving charges paid - The law of averages adopted by the Commissioner of Income Tax (Appeals) cannot be held to be justifiable, as in the case on hand books of accounts were properly maintained and produced before the Department. - HC

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