https://www.taxtmi.com/caselaws?id=314307 ITAT Bangalore allowed assessee's appeal on unexplained cash deposits, finding deposits of Rs. 107,95,803 were justified by opening cash balance and withdrawals totaling Rs. 1,08,39,000. Addition for unexplained credit card expenses of Rs. 4,37,047 was deleted as payments were made from legitimate bank withdrawals. TDS disallowance under section 40(a)(ia) was removed, ruling that labourers were employees, not contractors, thus no TDS liability under section 194C. Adhoc disallowance on labour charges was reduced from 25% to 10% of self-made vouchers, noting AO's action lacked specific discrepancies and such voucher practice was consistent business practice. en-us Wed, 03 Jan 2024 00:00:00 +0530 Thu, 30 May 2024 20:53:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314307 ITAT Bangalore allowed assessee's appeal on unexplained cash deposits, finding deposits of Rs. 107,95,803 were justified by opening cash balance and withdrawals totaling Rs. 1,08,39,000. Addition for unexplained credit card expenses of Rs. 4,37,047 was deleted as payments were made from legitimate bank withdrawals. TDS disallowance under section 40(a)(ia) was removed, ruling that labourers were employees, not contractors, thus no TDS liability under section 194C. Adhoc disallowance on labour charges was reduced from 25% to 10% of self-made vouchers, noting AO's action lacked specific discrepancies and such voucher practice was consistent business practice. Case-Laws Income Tax Wed, 03 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314307