TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Tribunal Rules on Section 153A: Prevents Double Disallowance of Wages and Salaries in Income Tax Assessment.</h1> The case addresses the validity of assessment proceedings under section 153A of the Income Tax Act, focusing on the disallowance of wages and salaries payable claimed by the assessee. The Tribunal evaluated whether the disallowance of Rs. 62.75 lacs for wages and Rs. 29.53 lacs for salaries was justified. The assessee argued that these amounts were based on regular accounts and not on incriminating evidence from a search, and that disallowing both the provisions and actual payments would result in double disallowance. The Tribunal found the expenses were not bogus but a timing issue, allowing the deductions for actual payments made in subsequent years, thereby preventing double disallowance and ensuring fairness in taxation.
TaxTMI 
TaxTMI 