https://www.taxtmi.com/caselaws?id=262460 The Court upheld the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal, finding no reason to interfere with the deletion of additions for delayed contributions to ESI, PF, and superannuation fund under Section 43(B). The expenditure on machinery purchase was partially treated as capital expenditure due to the integral role of machinery in production processes. The deletion of notional interest addition on an interest-free loan to a sister concern was upheld, with the Court agreeing with the ITAT's factual determination. The appeal was disposed of accordingly. en-us Tue, 04 Aug 2015 00:00:00 +0530 Sat, 07 Nov 2015 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262460 The Court upheld the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal, finding no reason to interfere with the deletion of additions for delayed contributions to ESI, PF, and superannuation fund under Section 43(B). The expenditure on machinery purchase was partially treated as capital expenditure due to the integral role of machinery in production processes. The deletion of notional interest addition on an interest-free loan to a sister concern was upheld, with the Court agreeing with the ITAT's factual determination. The appeal was disposed of accordingly. Case-Laws Income Tax Tue, 04 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262460