https://www.taxtmi.com/caselaws?id=469897 Reassessment based on the same material already examined in the original scrutiny assessment was held to be a mere change of opinion and, without new tangible material, was invalid. Penalty for alleged repayment of loans otherwise than by account payee cheque or bank draft was not sustainable where the records showed repayment through cheques and RTGS, the statutory contravention was not established, and the requisite satisfaction for initiation of penalty was absent. Employees' contribution to PF and ESI was held deductible only if deposited within the statutory due date under the relevant welfare laws; delay beyond that date justified disallowance. en-us Tue, 30 Apr 2024 00:00:00 +0530 Thu, 09 Jul 2026 10:56:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469897 Reassessment based on the same material already examined in the original scrutiny assessment was held to be a mere change of opinion and, without new tangible material, was invalid. Penalty for alleged repayment of loans otherwise than by account payee cheque or bank draft was not sustainable where the records showed repayment through cheques and RTGS, the statutory contravention was not established, and the requisite satisfaction for initiation of penalty was absent. Employees' contribution to PF and ESI was held deductible only if deposited within the statutory due date under the relevant welfare laws; delay beyond that date justified disallowance. Case-Laws Income Tax Tue, 30 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469897