https://www.taxtmi.com/caselaws?id=401723 The case involved disputes over alleged hawala purchases, disallowance of certain purchases and labour charges, and disallowance of wages under section 40(a)(ia). The AO added alleged hawala purchases to taxable income without cross-examination, leading to a 100% disallowance upheld by CIT(A). The ITAT allowed a 12.5% disallowance considering grey market purchases. Disallowed purchases and labour charges were partially upheld, and disallowed wages were remitted for further examination to provide a fair hearing. The case emphasizes the importance of cross-examination, evidence for expenses, and application of legal precedents in tax assessments. en-us Wed, 16 Sep 2020 00:00:00 +0530 Tue, 15 Dec 2020 15:02:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401723 The case involved disputes over alleged hawala purchases, disallowance of certain purchases and labour charges, and disallowance of wages under section 40(a)(ia). The AO added alleged hawala purchases to taxable income without cross-examination, leading to a 100% disallowance upheld by CIT(A). The ITAT allowed a 12.5% disallowance considering grey market purchases. Disallowed purchases and labour charges were partially upheld, and disallowed wages were remitted for further examination to provide a fair hearing. The case emphasizes the importance of cross-examination, evidence for expenses, and application of legal precedents in tax assessments. Case-Laws Income Tax Wed, 16 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401723