https://www.taxtmi.com/caselaws?id=430992 A recurring and ascertainable liability for special memento expenditure and staff leave encashment was treated as allowable business expenditure, because the payments were claimed year after year and related to the relevant period; the fact that they were booked as provisions did not by itself justify disallowance, so that addition was deleted. By contrast, employees' provident fund contribution deposited after the statutory due date remained non-deductible, since delayed remittance of amounts collected from employees attracts disallowance under the tax law even if the delay is only for a few days. en-us Fri, 11 Nov 2022 00:00:00 +0530 Sat, 03 Dec 2022 07:00:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430992 A recurring and ascertainable liability for special memento expenditure and staff leave encashment was treated as allowable business expenditure, because the payments were claimed year after year and related to the relevant period; the fact that they were booked as provisions did not by itself justify disallowance, so that addition was deleted. By contrast, employees' provident fund contribution deposited after the statutory due date remained non-deductible, since delayed remittance of amounts collected from employees attracts disallowance under the tax law even if the delay is only for a few days. Case-Laws Income Tax Fri, 11 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430992