https://www.taxtmi.com/caselaws?id=381464 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The disallowance of business loss on advances to the subsidiary was deleted, as the advances were deemed to have a direct nexus with the assessee's business activities. Additionally, the disallowance under Section 36(1)(va) for delayed PF/ESIC contributions was overturned, as payments were made before the return filing deadline, in line with established legal precedents cited by the CIT(A). en-us Mon, 03 Jun 2019 00:00:00 +0530 Sat, 07 Jan 2023 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381464 The Tribunal upheld the CIT(A)'s decisions, dismissing the Revenue's appeal. The disallowance of business loss on advances to the subsidiary was deleted, as the advances were deemed to have a direct nexus with the assessee's business activities. Additionally, the disallowance under Section 36(1)(va) for delayed PF/ESIC contributions was overturned, as payments were made before the return filing deadline, in line with established legal precedents cited by the CIT(A). Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381464