https://www.taxtmi.com/caselaws?id=793281 Addition for contingent liability was deleted where the tax audit report mistakenly described a bank guarantee as a contingent liability, because no deduction had been claimed in the profit and loss account and the disallowance rested only on the erroneous audit entry. Disallowance of employees' provident fund contribution was also deleted because the delayed deposit was attributed to the Covid period and was treated as having been made within the extended time limit supported by the relevant EPFO notification. Both issues were decided in favour of the assessee, and the appeals were allowed. en-us Thu, 21 May 2026 00:00:00 +0530 Sat, 13 Jun 2026 14:41:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793281 Addition for contingent liability was deleted where the tax audit report mistakenly described a bank guarantee as a contingent liability, because no deduction had been claimed in the profit and loss account and the disallowance rested only on the erroneous audit entry. Disallowance of employees' provident fund contribution was also deleted because the delayed deposit was attributed to the Covid period and was treated as having been made within the extended time limit supported by the relevant EPFO notification. Both issues were decided in favour of the assessee, and the appeals were allowed. Case-Laws Income Tax Thu, 21 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793281