ITAT Deems Labor Charges Genuine as Contractor Retracts Admission of False Payments, Quashes Disallowance [Read Order]

The Tribunal criticized the Revenue department’s reliance on a retracted statement without sufficient corroboration and highlighted the importance of evaluating the full scope of evidence before making disallowances
ITAT Deems Labor Charges Genuine as Contractor Retracts Admission of False Payments, Quashes Disallowance

Recently, the Income Tax Appellate Tribunal (ITAT) of Mumbai quashed the disallowance of labor charges after determining the payments to be genuine, following a key contractor’s retraction of an earlier admission of false payments. The decision came after a thorough examination of the evidence provided by the taxpayer, which refuted claims by the Income Tax…

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