https://www.taxtmi.com/caselaws?id=426978 The Appellate Tribunal partially allowed the appeals regarding time-barred assessment orders under section 153A, disallowance of expenses without show cause notice, payments to dock labourers and union leaders, estimation of speed money quantum, application of total income ratio to speed money, and allowability of speed money as business expenditure. The Tribunal restricted the disallowance of speed money payments to dock labourers to 10% of the total expenditure claimed in each assessment year, emphasizing the importance of verifiable documentation and reasonable disallowances while acknowledging the business necessity of such payments. en-us Mon, 22 Aug 2022 00:00:00 +0530 Tue, 30 Aug 2022 10:10:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426978 The Appellate Tribunal partially allowed the appeals regarding time-barred assessment orders under section 153A, disallowance of expenses without show cause notice, payments to dock labourers and union leaders, estimation of speed money quantum, application of total income ratio to speed money, and allowability of speed money as business expenditure. The Tribunal restricted the disallowance of speed money payments to dock labourers to 10% of the total expenditure claimed in each assessment year, emphasizing the importance of verifiable documentation and reasonable disallowances while acknowledging the business necessity of such payments. Case-Laws Income Tax Mon, 22 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426978