https://www.taxtmi.com/caselaws?id=351773 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeals for both assessment years. The primary issue was whether lease rentals should be taxed on an accrual or receipt basis, with the Tribunal emphasizing that income cannot be taxed until disputes are resolved. Revised claims based on audited accounts were allowed for a more accurate financial reflection. Delayed payments to ESI were deemed compensatory and allowable. The Tribunal also ruled that interest paid on late EPF and ESI deposits was compensatory and thus deductible under section 37(1). en-us Wed, 27 Sep 2017 00:00:00 +0530 Fri, 01 Dec 2017 08:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351773 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeals for both assessment years. The primary issue was whether lease rentals should be taxed on an accrual or receipt basis, with the Tribunal emphasizing that income cannot be taxed until disputes are resolved. Revised claims based on audited accounts were allowed for a more accurate financial reflection. Delayed payments to ESI were deemed compensatory and allowable. The Tribunal also ruled that interest paid on late EPF and ESI deposits was compensatory and thus deductible under section 37(1). Case-Laws Income Tax Wed, 27 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351773