https://www.taxtmi.com/caselaws?id=179842 The Tribunal partly allowed the Department's appeal. The Net Present Value (NPV) payment was considered a revenue expenditure under Section 37(1) of the Income Tax Act, following precedents that such payments are revenue in nature if no capital asset is acquired. The addition for delayed payment of Employees' Contribution to the Provident Fund was reinstated, as the assessee failed to deposit the contribution before the return due date, aligning with Section 43B provisions. en-us Fri, 05 Aug 2011 00:00:00 +0530 Tue, 04 Apr 2023 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179842 The Tribunal partly allowed the Department's appeal. The Net Present Value (NPV) payment was considered a revenue expenditure under Section 37(1) of the Income Tax Act, following precedents that such payments are revenue in nature if no capital asset is acquired. The addition for delayed payment of Employees' Contribution to the Provident Fund was reinstated, as the assessee failed to deposit the contribution before the return due date, aligning with Section 43B provisions. Case-Laws Income Tax Fri, 05 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179842