https://www.taxtmi.com/highlights?id=105049 Profit on payments for subcontracted civil work cannot be separately estimated where the underlying contract receipts and profit have already been recorded, as this would duplicate disclosed profit; the related addition was deleted. A donation deduction remains disallowable where banking entries are unsupported by receipts. For delayed provident fund remittances, compensatory interest is deductible, whereas statutory damages for breach of payment obligations are penal and disallowable. The payment requires bifurcation between interest and damages, with the allowable interest component to be verified and permitted. en-us Fri, 16 Oct 2026 05:20:55 +0530 Fri, 16 Oct 2026 05:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105049 Profit on payments for subcontracted civil work cannot be separately estimated where the underlying contract receipts and profit have already been recorded, as this would duplicate disclosed profit; the related addition was deleted. A donation deduction remains disallowable where banking entries are unsupported by receipts. For delayed provident fund remittances, compensatory interest is deductible, whereas statutory damages for breach of payment obligations are penal and disallowable. The payment requires bifurcation between interest and damages, with the allowable interest component to be verified and permitted. Highlights Income Tax Fri, 16 Oct 2026 05:20:55 +0530 https://www.taxtmi.com/highlights?id=105049