https://www.taxtmi.com/caselaws?id=236471 The Tribunal allowed the assessee's appeal regarding the addition of Rs.65,67,700 debited to the Suraksha fund, considering it a statutory liability deductible under section 37. The issue of Rs.15,71,767 premium paid to LIC was remanded for further verification. The Tribunal directed the AO to allow the Rs.28,17,236 premium for Leave Encashment Group Scheme as a business expense. The matter of interest charges under sections 234A, 234B, and 234C was deemed consequential and ordered accordingly. The appeals for multiple assessment years were consolidated and partly allowed for statistical purposes. en-us Mon, 15 Jul 2013 00:00:00 +0530 Thu, 29 Aug 2013 13:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236471 The Tribunal allowed the assessee's appeal regarding the addition of Rs.65,67,700 debited to the Suraksha fund, considering it a statutory liability deductible under section 37. The issue of Rs.15,71,767 premium paid to LIC was remanded for further verification. The Tribunal directed the AO to allow the Rs.28,17,236 premium for Leave Encashment Group Scheme as a business expense. The matter of interest charges under sections 234A, 234B, and 234C was deemed consequential and ordered accordingly. The appeals for multiple assessment years were consolidated and partly allowed for statistical purposes. Case-Laws Income Tax Mon, 15 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236471