https://www.taxtmi.com/caselaws?id=177554 The Tribunal upheld the Assessing Officer's disallowances in the case. The disallowance of Rs. 42,013 for late payment of P.F. and E.S.I. was affirmed, emphasizing adherence to statutory due dates. The disallowance of Rs. 2,65,000 for expenses on authorized share capital was upheld as capital expenditure, not covered under revenue provisions. The disallowance of Rs. 19,16,049 for business development expenses was confirmed, as expenses for director's son's foreign study were deemed personal, not business-related. The Tribunal emphasized timely payments, capital nature of certain expenses, and exclusion of personal expenses from business deductions. en-us Fri, 23 Aug 2013 00:00:00 +0530 Tue, 13 Dec 2016 16:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177554 The Tribunal upheld the Assessing Officer's disallowances in the case. The disallowance of Rs. 42,013 for late payment of P.F. and E.S.I. was affirmed, emphasizing adherence to statutory due dates. The disallowance of Rs. 2,65,000 for expenses on authorized share capital was upheld as capital expenditure, not covered under revenue provisions. The disallowance of Rs. 19,16,049 for business development expenses was confirmed, as expenses for director's son's foreign study were deemed personal, not business-related. The Tribunal emphasized timely payments, capital nature of certain expenses, and exclusion of personal expenses from business deductions. Case-Laws Income Tax Fri, 23 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177554