https://www.taxtmi.com/caselaws?id=9952 The High Court ruled against the assessee in a tax case, stating that expenses related to the issue of shares as business expenditure are not deductible, following the Supreme Court's decision in Brooke Bond India Ltd. v. CIT. Additionally, the Court held that ESI contributions are only deductible upon actual payment, not just provision in accounts, as per section 43B(b) of the Income-tax Act. The Court emphasized the necessity of actual payment for claiming deductions under section 43B(b) and ruled in favor of the Revenue, overturning the Tribunal's decision. en-us Mon, 10 Apr 2006 00:00:00 +0530 Fri, 03 Jul 2009 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9952 The High Court ruled against the assessee in a tax case, stating that expenses related to the issue of shares as business expenditure are not deductible, following the Supreme Court's decision in Brooke Bond India Ltd. v. CIT. Additionally, the Court held that ESI contributions are only deductible upon actual payment, not just provision in accounts, as per section 43B(b) of the Income-tax Act. The Court emphasized the necessity of actual payment for claiming deductions under section 43B(b) and ruled in favor of the Revenue, overturning the Tribunal's decision. Case-Laws Income Tax Mon, 10 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9952