https://www.taxtmi.com/caselaws?id=796481 Allowability of a bank-guarantee amount reported as a contingent liability in Form 3CD requires verification of the underlying accounting entries, whether reporting was gross or net, the amount's nature, and its connection with other years before an adjustment can be sustained. Cash-paid electricity expenses require verification of payment circumstances, installations, banking access and the claimed Rule 6DD exception before disallowance under Section 40A(3). Both issues were remanded for fresh factual determination after reasonable opportunity to present relevant material. en-us Thu, 08 Jan 2026 00:00:00 +0530 Thu, 06 Aug 2026 09:11:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796481 Allowability of a bank-guarantee amount reported as a contingent liability in Form 3CD requires verification of the underlying accounting entries, whether reporting was gross or net, the amount's nature, and its connection with other years before an adjustment can be sustained. Cash-paid electricity expenses require verification of payment circumstances, installations, banking access and the claimed Rule 6DD exception before disallowance under Section 40A(3). Both issues were remanded for fresh factual determination after reasonable opportunity to present relevant material. Case-Laws Income Tax Thu, 08 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796481