https://www.taxtmi.com/caselaws?id=361711 Business deductions were allowed for contributions to the State Renewal Fund because the fund supported employee welfare and safety during restructuring or closure of state-owned enterprises, satisfying business expediency under section 37(1). Employees' PF and ESI contributions deposited before the return-filing due date were treated as allowable despite delay under the respective welfare statutes, following jurisdictional High Court precedent. Contributions to the Energy Conservation Fund were deductible as statutory liabilities connected with the renewable-energy business, while publicity and advertisement expenditure was deductible because it related to business promotion and awareness activities. The first appellate authority's deletion of the disallowances was sustained. en-us Mon, 19 Mar 2018 00:00:00 +0530 Tue, 12 Jun 2018 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361711 Business deductions were allowed for contributions to the State Renewal Fund because the fund supported employee welfare and safety during restructuring or closure of state-owned enterprises, satisfying business expediency under section 37(1). Employees' PF and ESI contributions deposited before the return-filing due date were treated as allowable despite delay under the respective welfare statutes, following jurisdictional High Court precedent. Contributions to the Energy Conservation Fund were deductible as statutory liabilities connected with the renewable-energy business, while publicity and advertisement expenditure was deductible because it related to business promotion and awareness activities. The first appellate authority's deletion of the disallowances was sustained. Case-Laws Income Tax Mon, 19 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361711