https://www.taxtmi.com/caselaws?id=343524 The Tribunal ruled in favor of the appellant on both issues. The disallowance of the contribution to the recognized Provident Fund was overturned as the fund was established under the Employees Provident Fund Act, meeting the definition of a recognized provident fund. The disallowance of the cash loss claimed was also reversed, as the expenses were deemed allowable for the ongoing business based on past assessments. The Tribunal directed the deletion of the addition made by the Assessing Officer, ultimately allowing the appeal. en-us Thu, 27 Apr 2017 00:00:00 +0530 Sat, 27 May 2017 07:03:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343524 The Tribunal ruled in favor of the appellant on both issues. The disallowance of the contribution to the recognized Provident Fund was overturned as the fund was established under the Employees Provident Fund Act, meeting the definition of a recognized provident fund. The disallowance of the cash loss claimed was also reversed, as the expenses were deemed allowable for the ongoing business based on past assessments. The Tribunal directed the deletion of the addition made by the Assessing Officer, ultimately allowing the appeal. Case-Laws Income Tax Thu, 27 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343524