https://www.taxtmi.com/caselaws?id=255325 The Court allowed the appeal, holding that the disallowance of labour charges under Section 40A(2)(b) of the Income Tax Act was unjustified as the authorities failed to ascertain the fair market value. Additionally, the disallowance of entire labour charges without considering corresponding receipts was deemed incorrect. The Court ruled in favor of the appellant-assessee, stating that the Tribunal erred in upholding the disallowance and that the entire amount of labour charges paid could not be disallowed without considering the corresponding receipts. en-us Mon, 15 Dec 2014 00:00:00 +0530 Wed, 14 Jan 2015 10:23:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255325 The Court allowed the appeal, holding that the disallowance of labour charges under Section 40A(2)(b) of the Income Tax Act was unjustified as the authorities failed to ascertain the fair market value. Additionally, the disallowance of entire labour charges without considering corresponding receipts was deemed incorrect. The Court ruled in favor of the appellant-assessee, stating that the Tribunal erred in upholding the disallowance and that the entire amount of labour charges paid could not be disallowed without considering the corresponding receipts. Case-Laws Income Tax Mon, 15 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255325