https://www.taxtmi.com/caselaws?id=243300 The Tribunal held that the Net Present Value (NPV) paid by the assessee to the Forest Department was allowable as business expenditure under Section 37(1) of the Income Tax Act, as it was a statutory requirement for the continuation of mining operations and did not result in acquiring any capital asset. However, the Tribunal allowed the Department's appeal regarding the delayed payment of Employees' Contribution to the Provident Fund, restoring the Assessing Officer's addition. The appeal was partly allowed. en-us Fri, 05 Aug 2011 00:00:00 +0530 Wed, 29 Jan 2014 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243300 The Tribunal held that the Net Present Value (NPV) paid by the assessee to the Forest Department was allowable as business expenditure under Section 37(1) of the Income Tax Act, as it was a statutory requirement for the continuation of mining operations and did not result in acquiring any capital asset. However, the Tribunal allowed the Department's appeal regarding the delayed payment of Employees' Contribution to the Provident Fund, restoring the Assessing Officer's addition. The appeal was partly allowed. Case-Laws Income Tax Fri, 05 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243300