https://www.taxtmi.com/caselaws?id=237621 The High Court determined that vouchers found on premises were not prepared in lieu of a bank guarantee but represented cash transactions with a labor contractor. The Court upheld the Tribunal's decision that the payments fell under Section 69C of the Income Tax Act, justifying assessment in the assessee's hands. The lack of credible evidence regarding the source of payments and failure to record them in the books of account led to the dismissal of the appeal. The Court affirmed the Tribunal's assessment and decision on the nature of the vouchers and their treatment under the Income Tax Act. en-us Wed, 28 Aug 2013 00:00:00 +0530 Wed, 02 Oct 2013 23:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237621 The High Court determined that vouchers found on premises were not prepared in lieu of a bank guarantee but represented cash transactions with a labor contractor. The Court upheld the Tribunal's decision that the payments fell under Section 69C of the Income Tax Act, justifying assessment in the assessee's hands. The lack of credible evidence regarding the source of payments and failure to record them in the books of account led to the dismissal of the appeal. The Court affirmed the Tribunal's assessment and decision on the nature of the vouchers and their treatment under the Income Tax Act. Case-Laws Income Tax Wed, 28 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237621