https://www.taxtmi.com/caselaws?id=331071 The Tribunal partly allowed the Revenue's appeal, upholding some additions while reversing others. The disallowance of loss on account of fire was partially allowed, with 50% of the claim for non-excisable goods lost in the fire being accepted. The disallowance made under section 80IA of the Act was overturned, allowing the deduction. However, the addition made on account of late payment of employees' contribution to PF/ESI was confirmed. The addition made on account of sundry creditors under section 41(1) of the Act was deleted as the Tribunal found the age of outstanding creditors alone did not justify the additions. en-us Mon, 20 Jun 2016 00:00:00 +0530 Fri, 12 Aug 2016 13:20:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331071 The Tribunal partly allowed the Revenue's appeal, upholding some additions while reversing others. The disallowance of loss on account of fire was partially allowed, with 50% of the claim for non-excisable goods lost in the fire being accepted. The disallowance made under section 80IA of the Act was overturned, allowing the deduction. However, the addition made on account of late payment of employees' contribution to PF/ESI was confirmed. The addition made on account of sundry creditors under section 41(1) of the Act was deleted as the Tribunal found the age of outstanding creditors alone did not justify the additions. Case-Laws Income Tax Mon, 20 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331071