https://www.taxtmi.com/caselaws?id=284455 The Tribunal upheld the Commissioner of Income-tax(Appeals)' decision to allow deductions for timely payment of contributions towards Employees Provident Fund and ESI, citing the second proviso to S.43B of the Act. The disallowance of audit fee under section 40(a)(ia) was deleted as the company was not treated as an assessee in default under S.201(1). Regarding the disallowance of depreciation on assets, the Tribunal directed the Assessing Officer to reevaluate eligibility for higher depreciation based on a liberal interpretation of the term "computer." The Revenue's appeal was dismissed, and the assessee's appeal was allowed for statistical purposes. en-us Wed, 12 Nov 2014 00:00:00 +0530 Fri, 24 Jan 2020 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284455 The Tribunal upheld the Commissioner of Income-tax(Appeals)' decision to allow deductions for timely payment of contributions towards Employees Provident Fund and ESI, citing the second proviso to S.43B of the Act. The disallowance of audit fee under section 40(a)(ia) was deleted as the company was not treated as an assessee in default under S.201(1). Regarding the disallowance of depreciation on assets, the Tribunal directed the Assessing Officer to reevaluate eligibility for higher depreciation based on a liberal interpretation of the term "computer." The Revenue's appeal was dismissed, and the assessee's appeal was allowed for statistical purposes. Case-Laws Income Tax Wed, 12 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284455