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Assessee's claim for deduction of written off "Unclaimed VAT"...
Deduction for written off "Unclaimed VAT" allowed. Excess PF contribution to contractual laborers allowed as per EPF Act. Payment for business purposes.
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Assessee's claim for deduction of written off "Unclaimed VAT" allowed as amount written off was part of purchases made, available for set-off against VAT liability discharged on sales. Disallowance of excess contribution to provident fund of contractual laborers rejected as establishment is deemed employer under EPF and MP Act, 1952, required to pay both employer's and employee's share without ceiling of 27% u/r 87 of Income Tax Rules, 1962. Payment incurred wholly and exclusively for business purposes, not gratuitous. Appeal allowed.
Assessee's claim for deduction of written off "Unclaimed VAT" allowed as amount written off was part of purchases made, available for set-off against VAT liability discharged on sales. Disallowance of excess contribution to provident fund of contractual laborers rejected as establishment is deemed employer under EPF and MP Act, 1952, required to pay both employer's and employee's share without ceiling of 27% u/r 87 of Income Tax Rules, 1962. Payment incurred wholly and exclusively for business purposes, not gratuitous. Appeal allowed.
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