https://www.taxtmi.com/caselaws?id=302659 The appellate tribunal allowed the assessee's appeal on the disallowance of finance charges under section 40(a)(ia) and the ad hoc disallowance of labor payments. The tribunal emphasized the necessity of concrete evidence and proper verification for determining the genuineness of expenses. The Commissioner's disallowances were set aside, instructing the Assessing Officer to verify the certificates and provide a hearing to the assessee. The tribunal highlighted the lack of substantiation by the Revenue in disallowing expenses, ultimately partially allowing the appeal for statistical purposes. en-us Fri, 17 May 2019 00:00:00 +0530 Fri, 10 Jun 2022 08:27:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302659 The appellate tribunal allowed the assessee's appeal on the disallowance of finance charges under section 40(a)(ia) and the ad hoc disallowance of labor payments. The tribunal emphasized the necessity of concrete evidence and proper verification for determining the genuineness of expenses. The Commissioner's disallowances were set aside, instructing the Assessing Officer to verify the certificates and provide a hearing to the assessee. The tribunal highlighted the lack of substantiation by the Revenue in disallowing expenses, ultimately partially allowing the appeal for statistical purposes. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302659