https://www.taxtmi.com/caselaws?id=404058 The Court ruled in favor of the assessee, a partnership firm, in a case challenging the disallowance of expenses paid to port workers as incentives under the Income Tax Act. The Court found the 10% disallowance by the Tribunal unjustified due to lack of verifiable details for cash payments, despite the accepted books of accounts and trade practice of speed money payments. The appeal was allowed, quashing the Tribunal's order and deciding the substantial question of law in favor of the assessee for the relevant assessment years. en-us Sat, 06 Feb 2021 00:00:00 +0530 Tue, 13 Jul 2021 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404058 The Court ruled in favor of the assessee, a partnership firm, in a case challenging the disallowance of expenses paid to port workers as incentives under the Income Tax Act. The Court found the 10% disallowance by the Tribunal unjustified due to lack of verifiable details for cash payments, despite the accepted books of accounts and trade practice of speed money payments. The appeal was allowed, quashing the Tribunal's order and deciding the substantial question of law in favor of the assessee for the relevant assessment years. Case-Laws Income Tax Sat, 06 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404058