https://www.taxtmi.com/caselaws?id=314121 The ITAT Pune ruled in favor of the assessee on multiple grounds. Regarding delayed EPF employee contributions, the tribunal held that payments made before the income tax return due date are allowable deductions, following Nipso Polyfabriks Ltd. precedent. For government subsidy under Industrial Promotion Scheme, the tribunal directed that subsidy amounts should not reduce fixed asset costs for depreciation calculation purposes, deleting the depreciation addition. The dividend addition matter was remanded to the AO for factual verification to prevent double taxation if already declared in the return. en-us Wed, 06 Jul 2022 00:00:00 +0530 Sun, 19 May 2024 08:07:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314121 The ITAT Pune ruled in favor of the assessee on multiple grounds. Regarding delayed EPF employee contributions, the tribunal held that payments made before the income tax return due date are allowable deductions, following Nipso Polyfabriks Ltd. precedent. For government subsidy under Industrial Promotion Scheme, the tribunal directed that subsidy amounts should not reduce fixed asset costs for depreciation calculation purposes, deleting the depreciation addition. The dividend addition matter was remanded to the AO for factual verification to prevent double taxation if already declared in the return. Case-Laws Income Tax Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314121