https://www.taxtmi.com/caselaws?id=461452 Interest on bonds issued on amalgamation was treated as not for business use and the disallowance was upheld. Estimated disallowance of 5% of other expenses, 50% of foreign travel expenses, and payment to Ambalal Sarabhai Foundation under section 40A(9) were deleted on the facts and prior co-ordinate Bench rulings. Employer's provident fund contribution paid before the return-filing due date was allowed under section 43B, while employees' contribution attracted disallowance under sections 2(24)(x) and 36(1)(va) on binding High Court authority. Provident fund damages under section 14B were allowed only to the compensatory extent. Salary and wages for the Packart Press Unit were remanded for verification, and the Revenue's remaining disallowance challenges were rejected. en-us Thu, 17 Jan 2019 00:00:00 +0530 Mon, 07 Apr 2025 19:01:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461452 Interest on bonds issued on amalgamation was treated as not for business use and the disallowance was upheld. Estimated disallowance of 5% of other expenses, 50% of foreign travel expenses, and payment to Ambalal Sarabhai Foundation under section 40A(9) were deleted on the facts and prior co-ordinate Bench rulings. Employer's provident fund contribution paid before the return-filing due date was allowed under section 43B, while employees' contribution attracted disallowance under sections 2(24)(x) and 36(1)(va) on binding High Court authority. Provident fund damages under section 14B were allowed only to the compensatory extent. Salary and wages for the Packart Press Unit were remanded for verification, and the Revenue's remaining disallowance challenges were rejected. Case-Laws Income Tax Thu, 17 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461452