https://www.taxtmi.com/caselaws?id=458475 ITAT Jaipur dismissed revenue's appeal on two grounds. First, regarding disallowance of advance received against depreciation deferred, the tribunal upheld CIT(A)'s deletion following SC precedent in National Hydro Electric Power Corporation Ltd., holding that advance against depreciation cannot be added to normal income computation. Second, on disallowance of employees' PF/ESI contributions deposited beyond prescribed time limit, ITAT confirmed CIT(A)'s deletion as contributions were paid before return filing due date under Section 139(1), following Rajasthan HC decisions. Both issues decided against revenue. en-us Fri, 01 Jun 2018 00:00:00 +0530 Tue, 29 Oct 2024 19:15:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458475 ITAT Jaipur dismissed revenue's appeal on two grounds. First, regarding disallowance of advance received against depreciation deferred, the tribunal upheld CIT(A)'s deletion following SC precedent in National Hydro Electric Power Corporation Ltd., holding that advance against depreciation cannot be added to normal income computation. Second, on disallowance of employees' PF/ESI contributions deposited beyond prescribed time limit, ITAT confirmed CIT(A)'s deletion as contributions were paid before return filing due date under Section 139(1), following Rajasthan HC decisions. Both issues decided against revenue. Case-Laws Income Tax Fri, 01 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458475