https://www.taxtmi.com/caselaws?id=273092 Expenditure incurred for employee welfare, energy conservation and renewable energy promotion, including State Renewal Fund, Energy Conservation Fund, IEC, rural electrification, biomass study and publicity, was treated as allowable business deduction where a direct business nexus and genuineness were established. Employees' PF and ESI contributions deposited before the due date of filing the return were regarded as allowable. Extension and cancellation fees were not brought to tax on accrual where receipt depended on further action and no real accrual was certain. For section 80IA(4), receipts linked directly to power generation shortfall were treated as eligible, while carbon financial instrument receipts were not; common employee and administrative expenses were required to be apportioned to eligible units. en-us Fri, 18 Aug 2017 00:00:00 +0530 Tue, 05 Jun 2018 07:54:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273092 Expenditure incurred for employee welfare, energy conservation and renewable energy promotion, including State Renewal Fund, Energy Conservation Fund, IEC, rural electrification, biomass study and publicity, was treated as allowable business deduction where a direct business nexus and genuineness were established. Employees' PF and ESI contributions deposited before the due date of filing the return were regarded as allowable. Extension and cancellation fees were not brought to tax on accrual where receipt depended on further action and no real accrual was certain. For section 80IA(4), receipts linked directly to power generation shortfall were treated as eligible, while carbon financial instrument receipts were not; common employee and administrative expenses were required to be apportioned to eligible units. Case-Laws Income Tax Fri, 18 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273092