https://www.taxtmi.com/caselaws?id=216702 Licence fee paid for group business support was treated as allowable expenditure, and proportionate interest disallowance on advances to wholly owned subsidiaries was rejected because the assessee's own funds and commercial expediency supported the loans. Delayed employee contributions to provident fund, labour welfare fund and ESI were not disallowed when paid before the return-filing due date. Rule 7A was held inapplicable to sale proceeds of old rubber trees, losses from tissue culture and aqua culture divisions were allowed, and no capital gain or loss arose on sale of Grevelia trees. The estate transfer was not a slump sale under section 50B, related profit was excluded from book profit under section 115JB, gratuity provision was not added back, and share transfer-related charges were allowed as revenue expenditure. en-us Fri, 29 Jun 2012 00:00:00 +0530 Mon, 11 Apr 2016 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216702 Licence fee paid for group business support was treated as allowable expenditure, and proportionate interest disallowance on advances to wholly owned subsidiaries was rejected because the assessee's own funds and commercial expediency supported the loans. Delayed employee contributions to provident fund, labour welfare fund and ESI were not disallowed when paid before the return-filing due date. Rule 7A was held inapplicable to sale proceeds of old rubber trees, losses from tissue culture and aqua culture divisions were allowed, and no capital gain or loss arose on sale of Grevelia trees. The estate transfer was not a slump sale under section 50B, related profit was excluded from book profit under section 115JB, gratuity provision was not added back, and share transfer-related charges were allowed as revenue expenditure. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216702