Case Law Analysis
|Income Tax Appellate Tribunal
Section 145(3) IT Act | Banking Trails Override Incomplete Vouchers in Transportation Business: ITAT Bangalore
ITAT Bangalore struck down an 8% ad hoc disallowance of transportation expenses, holding that consistent banking records and the commercial reality of the business outweigh the absence of formal vouchers. This sets a critical precedent for transporters and logistics firms relying on digital payment trails to substantiate legitimate operational costs in tax assessments.