https://www.taxtmi.com/caselaws?id=302659 Disallowance under section 40(a)(ia) for alleged non-deduction of tax on finance charges paid to NBFCs was sent back for factual verification because the assessee relied on Chartered Accountant certificates and related evidence that required examination at the assessment stage. The ad hoc disallowance of labour payment expenses was deleted because the payments were supported by thumb impressions and the Revenue produced no specific adverse material or enquiry to show that the expenditure was not genuine. The matter thus resulted in partial relief, with one issue remanded and the labour expense disallowance rejected. 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 Disallowance under section 40(a)(ia) for alleged non-deduction of tax on finance charges paid to NBFCs was sent back for factual verification because the assessee relied on Chartered Accountant certificates and related evidence that required examination at the assessment stage. The ad hoc disallowance of labour payment expenses was deleted because the payments were supported by thumb impressions and the Revenue produced no specific adverse material or enquiry to show that the expenditure was not genuine. The matter thus resulted in partial relief, with one issue remanded and the labour expense disallowance rejected. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302659