https://www.taxtmi.com/caselaws?id=433377 The Tribunal upheld the Assessing Officer's additions and disallowances in a tax case involving delayed deposits of employees' contributions to Provident Fund and Employees State Insurance under section 43B. The Tribunal cited a recent Supreme Court decision emphasizing timely deposits of such contributions, leading to the dismissal of the appeal. Additionally, the Tribunal confirmed the disallowance of interest on delayed TDS deposits, ruling it as non-deductible penal interest not meeting the criteria for business expenditure under the Income Tax Act. The Tribunal's decision was based on statutory provisions and judicial precedents, ultimately dismissing the appeal on both grounds. en-us Fri, 20 Jan 2023 00:00:00 +0530 Wed, 13 May 2026 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433377 The Tribunal upheld the Assessing Officer's additions and disallowances in a tax case involving delayed deposits of employees' contributions to Provident Fund and Employees State Insurance under section 43B. The Tribunal cited a recent Supreme Court decision emphasizing timely deposits of such contributions, leading to the dismissal of the appeal. Additionally, the Tribunal confirmed the disallowance of interest on delayed TDS deposits, ruling it as non-deductible penal interest not meeting the criteria for business expenditure under the Income Tax Act. The Tribunal's decision was based on statutory provisions and judicial precedents, ultimately dismissing the appeal on both grounds. Case-Laws Income Tax Fri, 20 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433377