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Income Tax

Disallowance of a portion of the weaving charges paid - The law...

Weaving Charges Disallowance Overturned: Properly Maintained Accounts Render Law of Averages Approach Unjustifiable.

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Income TaxMarch 27, 2015Case LawsHC

Disallowance of a portion of the weaving charges paid - The law of averages adopted by the Commissioner of Income Tax (Appeals) cannot be held to be justifiable, as in the case on hand books of accounts were properly maintained and produced before the Department. - HC

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