https://www.taxtmi.com/caselaws?id=312658 Karnataka HC set aside Income Tax Appellate Tribunal's order regarding disallowance of speed money payments and cash payments to gang leaders as business expenditure. The court found that the Tribunal failed to apply its mind judiciously and did not address major points decided by the Appellate Commissioner while sustaining the Assessing Officer's order restricting addition to 1.6% under section 37(1). Matter remanded to ITAT Bangalore for fresh disposal in accordance with law. en-us Wed, 28 Sep 2016 00:00:00 +0530 Fri, 01 Mar 2024 05:51:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312658 Karnataka HC set aside Income Tax Appellate Tribunal's order regarding disallowance of speed money payments and cash payments to gang leaders as business expenditure. The court found that the Tribunal failed to apply its mind judiciously and did not address major points decided by the Appellate Commissioner while sustaining the Assessing Officer's order restricting addition to 1.6% under section 37(1). Matter remanded to ITAT Bangalore for fresh disposal in accordance with law. Case-Laws Income Tax Wed, 28 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312658