https://www.taxtmi.com/caselaws?id=397335 The court upheld the Tribunal's decision to restrict the disallowance to 10% of the expenditure towards subcontractors, emphasizing the reasonableness of profit estimation based on historical data. It also supported the Tribunal's findings regarding the contractors' genuineness and dismissed the Revenue's contentions. Additionally, the court affirmed the Tribunal's ruling that no addition should be made on account of cessation of liability under Section 41(1) of the Income Tax Act, criticizing the Revenue for filing unnecessary appeals and urging responsible authorities to avoid such litigation in the future. en-us Fri, 07 Aug 2020 00:00:00 +0530 Fri, 09 Oct 2020 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397335 The court upheld the Tribunal's decision to restrict the disallowance to 10% of the expenditure towards subcontractors, emphasizing the reasonableness of profit estimation based on historical data. It also supported the Tribunal's findings regarding the contractors' genuineness and dismissed the Revenue's contentions. Additionally, the court affirmed the Tribunal's ruling that no addition should be made on account of cessation of liability under Section 41(1) of the Income Tax Act, criticizing the Revenue for filing unnecessary appeals and urging responsible authorities to avoid such litigation in the future. Case-Laws Income Tax Fri, 07 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397335