https://www.taxtmi.com/caselaws?id=399824 An unapproved contribution to a superannuation fund was not deductible as business expenditure because it did not qualify under section 36(1)(iv) as a payment to a recognised provident fund or approved superannuation fund. By contrast, a payment made to the Government for the services of deputed employees, which was later credited to the employees' provident fund accounts, was treated as deductible business expenditure under section 37. The court followed an earlier Division Bench ruling on identical facts and answered the questions of law consistently with that precedent, resulting in the deduction issue being decided in favour of the assessee and against the Revenue. en-us Thu, 08 Oct 2020 00:00:00 +0530 Mon, 19 Oct 2020 19:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399824 An unapproved contribution to a superannuation fund was not deductible as business expenditure because it did not qualify under section 36(1)(iv) as a payment to a recognised provident fund or approved superannuation fund. By contrast, a payment made to the Government for the services of deputed employees, which was later credited to the employees' provident fund accounts, was treated as deductible business expenditure under section 37. The court followed an earlier Division Bench ruling on identical facts and answered the questions of law consistently with that precedent, resulting in the deduction issue being decided in favour of the assessee and against the Revenue. Case-Laws Income Tax Thu, 08 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399824