https://www.taxtmi.com/caselaws?id=252965 A clarificatory amendment to section 40(a)(ia) was treated as retrospective, so tax deducted during the year and deposited before the return-filing due date did not warrant disallowance. Employees' contribution to PF and ESI was also held allowable where paid before the due date under section 139(1), despite late deposit under the welfare statutes. Cash payments for wall printing and discount expenses were outside the cash-disallowance provisions because party-wise vouchers were produced, payments were split, and no individual payment crossed the threshold. Interest could not be disallowed on advances to sister concerns without proof of diversion of borrowed funds, especially where sufficient interest-free funds existed. en-us Thu, 25 Sep 2014 00:00:00 +0530 Tue, 04 Nov 2014 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252965 A clarificatory amendment to section 40(a)(ia) was treated as retrospective, so tax deducted during the year and deposited before the return-filing due date did not warrant disallowance. Employees' contribution to PF and ESI was also held allowable where paid before the due date under section 139(1), despite late deposit under the welfare statutes. Cash payments for wall printing and discount expenses were outside the cash-disallowance provisions because party-wise vouchers were produced, payments were split, and no individual payment crossed the threshold. Interest could not be disallowed on advances to sister concerns without proof of diversion of borrowed funds, especially where sufficient interest-free funds existed. Case-Laws Income Tax Thu, 25 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252965