The Appellate Tribunal addressed various issues: disallowance of ...

Appellate Tribunal disallows effluent/waste disposal expenses & sales return provision. TDS liability on certain expenses to be examined. Bogus purchases deleted due to lack of response to notices.

Case Laws Income Tax

June 26, 2024

The Appellate Tribunal addressed various issues: disallowance of provisions for waste disposal expenses due to lack of evidence and scientific basis, upheld disallowance of provision for sales return as anticipated loss, remanded TDS liability on expenses for verification, and ruled in favor of the assessee regarding bogus purchases from Jammu and Kashmir-based parties. The Tribunal directed verification of credited provision amounts and granted relief for subsequent years. It emphasized the need for substantiating TDS compliance and rejected the disallowance of purchases based solely on unresponded notices, considering other evidence provided.

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The Appellate Tribunal addressed various issues: disallowance of ...

Appellate Tribunal disallows effluent/waste disposal expenses & sales return provision. TDS liability on certain expenses to be examined. Bogus purchases deleted due to lack of response to notices.

Case Laws Income Tax

June 26, 2024

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