https://www.taxtmi.com/caselaws?id=69377 The Tribunal upheld the CIT(A)'s decisions in a case involving the disallowance of provident fund contribution and the carry forward of unabsorbed business losses, depreciation, and other allowances. The Revenue's appeal challenging the disallowance of the provident fund contribution was rejected, with the Tribunal emphasizing that the liability was incurred during the relevant year and could be claimed as a deduction. Additionally, the Tribunal upheld the Commissioner's decision regarding the carry forward of losses, noting that the change in shareholding did not violate section 79 of the IT Act, 1961. The appeal was dismissed, affirming the decisions of the lower authorities. en-us Wed, 06 Mar 1985 00:00:00 +0530 Wed, 06 Apr 2011 14:33:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69377 The Tribunal upheld the CIT(A)'s decisions in a case involving the disallowance of provident fund contribution and the carry forward of unabsorbed business losses, depreciation, and other allowances. The Revenue's appeal challenging the disallowance of the provident fund contribution was rejected, with the Tribunal emphasizing that the liability was incurred during the relevant year and could be claimed as a deduction. Additionally, the Tribunal upheld the Commissioner's decision regarding the carry forward of losses, noting that the change in shareholding did not violate section 79 of the IT Act, 1961. The appeal was dismissed, affirming the decisions of the lower authorities. Case-Laws Income Tax Wed, 06 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69377