https://www.taxtmi.com/caselaws?id=122998 The ITAT Delhi upheld the decision of the learned CIT(A) in allowing the payment made by the assessee in the PF and ESI accounts before the due date of filing the returns, dismissing the revenue's appeals. The exclusion of interest income from eligible profit for computing the deduction under section 80-IB was upheld, as the interest income was not directly derived from the industrial undertaking. The issue of disallowance of expenses under section 14A for earning exempt income was set aside for fresh computation by the Assessing Officer, resulting in the dismissal of revenue's appeals and allowance of the assessee's appeal for statistical purposes. en-us Thu, 30 Sep 2010 00:00:00 +0530 Mon, 27 Aug 2012 10:54:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122998 The ITAT Delhi upheld the decision of the learned CIT(A) in allowing the payment made by the assessee in the PF and ESI accounts before the due date of filing the returns, dismissing the revenue's appeals. The exclusion of interest income from eligible profit for computing the deduction under section 80-IB was upheld, as the interest income was not directly derived from the industrial undertaking. The issue of disallowance of expenses under section 14A for earning exempt income was set aside for fresh computation by the Assessing Officer, resulting in the dismissal of revenue's appeals and allowance of the assessee's appeal for statistical purposes. Case-Laws Income Tax Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122998