https://www.taxtmi.com/caselaws?id=298607 The Tribunal's discussion addresses allowability of business expenditure and write-offs, holding that privilege fees for wholesale liquor trade, prior period expenses supported by records, and unreconciled bank balances written off in the books were allowable. It also treats employees' PF/ESI contributions deposited before the due date of return as deductible, applying the same principle as for employer contributions. Further, amounts actually written off as bad debts or supplier debit balances were allowed on the basis of actual write-off. Disallowance under section 43B for permit fees and surcharge on excise duty failed where those amounts were not claimed in the profit and loss account. The Revenue's appeal failed on all substantive issues. en-us Fri, 06 Nov 2015 00:00:00 +0530 Thu, 11 Nov 2021 19:34:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298607 The Tribunal's discussion addresses allowability of business expenditure and write-offs, holding that privilege fees for wholesale liquor trade, prior period expenses supported by records, and unreconciled bank balances written off in the books were allowable. It also treats employees' PF/ESI contributions deposited before the due date of return as deductible, applying the same principle as for employer contributions. Further, amounts actually written off as bad debts or supplier debit balances were allowed on the basis of actual write-off. Disallowance under section 43B for permit fees and surcharge on excise duty failed where those amounts were not claimed in the profit and loss account. The Revenue's appeal failed on all substantive issues. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298607