https://www.taxtmi.com/caselaws?id=178017 A valuation loss on non-moving stores and spares was treated as deductible revenue expenditure when supported by bona fide, consistently followed inventory valuation reflecting true business profits. Interest on delayed payment of electricity duty and water charges was held outside section 43B, though the unpaid principal water charges remained covered by that provision. Business-linked peripheral development , Mineral Exploration Fund contributions, benevolent scheme payments and verifiable advertisement or publicity expenses were recognised as deductible where commercial nexus existed. Prior period items were allowed only when liability crystallised, actuarial leave encashment was allowed for the relevant year, post-retirement medical benefits were not, excise duty was excluded from total turnover for section 80HHC, and interest for delayed dividend tax payment under section 115P was upheld. en-us Wed, 30 Nov 2005 00:00:00 +0530 Tue, 23 Sep 2025 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178017 A valuation loss on non-moving stores and spares was treated as deductible revenue expenditure when supported by bona fide, consistently followed inventory valuation reflecting true business profits. Interest on delayed payment of electricity duty and water charges was held outside section 43B, though the unpaid principal water charges remained covered by that provision. Business-linked peripheral development , Mineral Exploration Fund contributions, benevolent scheme payments and verifiable advertisement or publicity expenses were recognised as deductible where commercial nexus existed. Prior period items were allowed only when liability crystallised, actuarial leave encashment was allowed for the relevant year, post-retirement medical benefits were not, excise duty was excluded from total turnover for section 80HHC, and interest for delayed dividend tax payment under section 115P was upheld. Case-Laws Income Tax Wed, 30 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178017