https://www.taxtmi.com/caselaws?id=760260 Employees' contribution to PF/ESI deposited after the prescribed due date remained disallowable under Checkmate Services, so the disallowance was sustained. Marked-to-market loss on forward foreign exchange contracts entered to hedge genuine business exposure was treated as allowable business loss, and it was recognised for the related book profit computation. Cash deposits during the demonetisation period, claimed as scrap-sale receipts, were accepted because the assessee produced party-wise details and confirmations and the addition under section 68 was deleted. The deduction claim under section 35(2AB) was remitted for verification after DSIR approval, with relief granted for statistical purposes. en-us Wed, 09 Oct 2024 00:00:00 +0530 Thu, 17 Oct 2024 09:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760260 Employees' contribution to PF/ESI deposited after the prescribed due date remained disallowable under Checkmate Services, so the disallowance was sustained. Marked-to-market loss on forward foreign exchange contracts entered to hedge genuine business exposure was treated as allowable business loss, and it was recognised for the related book profit computation. Cash deposits during the demonetisation period, claimed as scrap-sale receipts, were accepted because the assessee produced party-wise details and confirmations and the addition under section 68 was deleted. The deduction claim under section 35(2AB) was remitted for verification after DSIR approval, with relief granted for statistical purposes. Case-Laws Income Tax Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760260