https://www.taxtmi.com/caselaws?id=312657 The Karnataka HC set aside the Income Tax Appellate Tribunal's order restricting addition to 1.6% of wages expenditure under section 37(1), instead of the 10.3% and 6.6% adopted by the assessing authority. The HC found the Tribunal failed to apply its mind judiciously to the facts and circumstances regarding the genuineness of expenditure claims. Following a previous 2015 judgment, the matter was remanded back to the Income Tax Appellate Tribunal for fresh consideration and proper adjudication. en-us Fri, 26 Feb 2016 00:00:00 +0530 Fri, 01 Mar 2024 05:51:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312657 The Karnataka HC set aside the Income Tax Appellate Tribunal's order restricting addition to 1.6% of wages expenditure under section 37(1), instead of the 10.3% and 6.6% adopted by the assessing authority. The HC found the Tribunal failed to apply its mind judiciously to the facts and circumstances regarding the genuineness of expenditure claims. Following a previous 2015 judgment, the matter was remanded back to the Income Tax Appellate Tribunal for fresh consideration and proper adjudication. Case-Laws Income Tax Fri, 26 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312657