https://www.taxtmi.com/caselaws?id=70340 Damages under section 14B of the Employees' Provident Funds Act and the excise penalty were treated as compensatory or business-related outgoings, because the default arose in the course of carrying on the business and the governing principle allowed deduction where the breach is a normal incident of business; the deductions were therefore allowed. By contrast, section 43A on exchange fluctuation was held only to revise actual cost and did not provide machinery to reopen past depreciation or claim the differential depreciation in the current year, so the enhanced depreciation claim was rejected. en-us Sat, 24 Apr 1982 00:00:00 +0530 Fri, 15 Apr 2011 16:11:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70340 Damages under section 14B of the Employees' Provident Funds Act and the excise penalty were treated as compensatory or business-related outgoings, because the default arose in the course of carrying on the business and the governing principle allowed deduction where the breach is a normal incident of business; the deductions were therefore allowed. By contrast, section 43A on exchange fluctuation was held only to revise actual cost and did not provide machinery to reopen past depreciation or claim the differential depreciation in the current year, so the enhanced depreciation claim was rejected. Case-Laws Income Tax Sat, 24 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70340