https://www.taxtmi.com/caselaws?id=281543 The ITAT Chennai upheld the CIT(A)'s decision that the provision for the superannuation fund made by the assessee was not taxable under Section 115WB of the Income Tax Act as it did not constitute an actual contribution to an approved superannuation fund. The tribunal emphasized the need for actual contributions for taxability and cited precedents favoring the assessee. Consequently, the interest levied under Sections 115WJ(3) and 115WK was also not upheld. The Revenue's appeal was dismissed, and the CIT(A)'s order was affirmed on 20th February 2013. en-us Wed, 20 Feb 2013 00:00:00 +0530 Mon, 24 Jun 2019 14:37:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281543 The ITAT Chennai upheld the CIT(A)'s decision that the provision for the superannuation fund made by the assessee was not taxable under Section 115WB of the Income Tax Act as it did not constitute an actual contribution to an approved superannuation fund. The tribunal emphasized the need for actual contributions for taxability and cited precedents favoring the assessee. Consequently, the interest levied under Sections 115WJ(3) and 115WK was also not upheld. The Revenue's appeal was dismissed, and the CIT(A)'s order was affirmed on 20th February 2013. Case-Laws Income Tax Wed, 20 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281543