https://www.taxtmi.com/caselaws?id=247304 The High Court dismissed the tax appeal, finding no substantial question of law. It affirmed the decisions of the CIT(A) and Tribunal regarding the disallowance of expenditure under Section 37(1) of the Income Tax Act. The Court upheld the restriction of disallowance from Rs. 33,19,203 to Rs. 59,000, based on doubts about the genuineness of payments. It also supported the reliance on an earlier Tribunal decision for the same assessee, emphasizing consistency in treatment. The Court rejected the argument of a binding precedence from a previous assessment year, concluding that the decisions were not legally flawed. en-us Mon, 31 Mar 2014 00:00:00 +0530 Mon, 05 May 2014 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247304 The High Court dismissed the tax appeal, finding no substantial question of law. It affirmed the decisions of the CIT(A) and Tribunal regarding the disallowance of expenditure under Section 37(1) of the Income Tax Act. The Court upheld the restriction of disallowance from Rs. 33,19,203 to Rs. 59,000, based on doubts about the genuineness of payments. It also supported the reliance on an earlier Tribunal decision for the same assessee, emphasizing consistency in treatment. The Court rejected the argument of a binding precedence from a previous assessment year, concluding that the decisions were not legally flawed. Case-Laws Income Tax Mon, 31 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247304