https://www.taxtmi.com/caselaws?id=183594 The Tribunal upheld the CIT(A)'s decision allowing the deduction of interest and lease rent, citing precedent on deductibility of interest for business purposes. The assessee's appeal on disallowance of PF contributions made after due dates was accepted, as the payment fell within the grace period. The Tribunal directed verification of excise duty payment for closing stock valuation. The Tribunal allowed the appeal on expenditure treatment in membrane cell plants, emphasizing consistency. However, the disallowance of contributions to welfare funds was upheld due to lack of evidence. The Revenue's appeal was dismissed, and the assessee's appeals were partly allowed. en-us Fri, 25 Sep 2009 00:00:00 +0530 Wed, 15 Jun 2016 17:29:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183594 The Tribunal upheld the CIT(A)'s decision allowing the deduction of interest and lease rent, citing precedent on deductibility of interest for business purposes. The assessee's appeal on disallowance of PF contributions made after due dates was accepted, as the payment fell within the grace period. The Tribunal directed verification of excise duty payment for closing stock valuation. The Tribunal allowed the appeal on expenditure treatment in membrane cell plants, emphasizing consistency. However, the disallowance of contributions to welfare funds was upheld due to lack of evidence. The Revenue's appeal was dismissed, and the assessee's appeals were partly allowed. Case-Laws Income Tax Fri, 25 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183594