https://www.taxtmi.com/caselaws?id=26728 Tax deductibility of a levy depends on its true character and statutory basis; where the record does not show whether a payment for delayed provident fund dues was interest, damages, or penalty, the court cannot decide allowability on the existing reference. The Employees' Provident Funds Act, 1952 contemplates damages for default, but the facts needed to identify how the amount was levied and under which provision it was recovered were absent. On that incomplete material, the court declined to answer the referred question and remitted the matter for a supplementary statement of the case. en-us Mon, 03 Mar 1986 00:00:00 +0530 Mon, 08 Feb 2010 11:03:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26728 Tax deductibility of a levy depends on its true character and statutory basis; where the record does not show whether a payment for delayed provident fund dues was interest, damages, or penalty, the court cannot decide allowability on the existing reference. The Employees' Provident Funds Act, 1952 contemplates damages for default, but the facts needed to identify how the amount was levied and under which provision it was recovered were absent. On that incomplete material, the court declined to answer the referred question and remitted the matter for a supplementary statement of the case. Case-Laws Income Tax Mon, 03 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26728