https://www.taxtmi.com/caselaws?id=471135 Delayed employees' provident fund contributions are not deductible when paid beyond the prescribed due date, while interest for delayed remittance of tax deducted at source is also not allowable as business expenditure. Forfeiture of a contract deposit after refusal to perform an awarded civil contract for commercial reasons is treated as deductible business expenditure where it is not incurred for an offence or an activity prohibited by law. An ad hoc disallowance of labour, machinery hire and repair expenses lacks support where books are not rejected, profits are not estimated, and no defects in vouchers or records are identified. The assessment is modified accordingly. en-us Wed, 02 Apr 2025 00:00:00 +0530 Fri, 21 Aug 2026 20:33:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471135 Delayed employees' provident fund contributions are not deductible when paid beyond the prescribed due date, while interest for delayed remittance of tax deducted at source is also not allowable as business expenditure. Forfeiture of a contract deposit after refusal to perform an awarded civil contract for commercial reasons is treated as deductible business expenditure where it is not incurred for an offence or an activity prohibited by law. An ad hoc disallowance of labour, machinery hire and repair expenses lacks support where books are not rejected, profits are not estimated, and no defects in vouchers or records are identified. The assessment is modified accordingly. Case-Laws Income Tax Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471135