https://www.taxtmi.com/caselaws?id=353861 Railway overloading charges described as punitive were treated as compensatory additional freight for permitted overloading, so the Explanation to section 37(1) did not bar deduction because no offence, confiscation, or prohibited purpose was involved. Employees' PF and ESI contributions paid before the return-filing due date were held allowable under the curative view applied to section 43B and section 36(1)(va), with the corresponding disallowance deleted. On section 14A read with Rule 8D, the assessee's own funds exceeded investments, supporting no interest disallowance, and for the administrative limb only investments yielding exempt income were to be considered in the average-investment computation. Overall, the assessee's relief was sustained. en-us Wed, 10 Jan 2018 00:00:00 +0530 Sat, 13 Jan 2018 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353861 Railway overloading charges described as punitive were treated as compensatory additional freight for permitted overloading, so the Explanation to section 37(1) did not bar deduction because no offence, confiscation, or prohibited purpose was involved. Employees' PF and ESI contributions paid before the return-filing due date were held allowable under the curative view applied to section 43B and section 36(1)(va), with the corresponding disallowance deleted. On section 14A read with Rule 8D, the assessee's own funds exceeded investments, supporting no interest disallowance, and for the administrative limb only investments yielding exempt income were to be considered in the average-investment computation. Overall, the assessee's relief was sustained. Case-Laws Income Tax Wed, 10 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353861