https://www.taxtmi.com/caselaws?id=177025 The Tribunal allowed deductions for employees' contribution to PF and ESI paid within the grace period and before the due date of filing the return. It ruled that such contributions are allowable deductions based on precedents from various High Courts. Regarding disallowance under section 14A, the Tribunal directed the Assessing Officer to calculate the disallowance on a reasonable basis, not under rule 8D, and held that no interest expenditure should be disallowed as the investments were made from surplus funds. The Tribunal partially allowed the appeals, deleting the interest disallowance and directing a 5% disallowance of dividend income. en-us Fri, 14 Oct 2011 00:00:00 +0530 Fri, 01 Jan 2016 17:12:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177025 The Tribunal allowed deductions for employees' contribution to PF and ESI paid within the grace period and before the due date of filing the return. It ruled that such contributions are allowable deductions based on precedents from various High Courts. Regarding disallowance under section 14A, the Tribunal directed the Assessing Officer to calculate the disallowance on a reasonable basis, not under rule 8D, and held that no interest expenditure should be disallowed as the investments were made from surplus funds. The Tribunal partially allowed the appeals, deleting the interest disallowance and directing a 5% disallowance of dividend income. Case-Laws Income Tax Fri, 14 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177025