https://www.taxtmi.com/caselaws?id=432390 The Supreme Court addressed the deductibility of delayed payments to EPF and ESI under Section 37 of the Income Tax Act, ruling that the first question had been previously decided against the assessee. The Court granted leave to examine the judgment solely on the second question. Additionally, the exclusion of profit on estate sales from computing book profit under Section 115JB was discussed, with the Court dismissing the petitions as the legal point had been decided against the petitioners in a prior judgment. The Court emphasized the significance of legal precedents in tax-related matters. en-us Mon, 21 Nov 2022 00:00:00 +0530 Wed, 14 Jun 2023 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432390 The Supreme Court addressed the deductibility of delayed payments to EPF and ESI under Section 37 of the Income Tax Act, ruling that the first question had been previously decided against the assessee. The Court granted leave to examine the judgment solely on the second question. Additionally, the exclusion of profit on estate sales from computing book profit under Section 115JB was discussed, with the Court dismissing the petitions as the legal point had been decided against the petitioners in a prior judgment. The Court emphasized the significance of legal precedents in tax-related matters. Case-Laws Income Tax Mon, 21 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432390