https://www.taxtmi.com/caselaws?id=59297 The Tribunal addressed multiple issues, ruling that 25% of 'speed money' expenses were disallowed due to insufficient evidence. Bogus liabilities were scrutinized, allowing detention charges but requiring verification of brokerage and other charges. Surcharge under s. 113 was deemed inapplicable due to the search's timing. Employer's PF and ESIC contributions were allowed if paid before the tax return due date, while employees' contributions paid late were disallowed. Expenses on computer repairs and upgrades were treated as revenue expenditures, not capital, resulting in the deletion of the addition and withdrawal of any depreciation on capitalized amounts. en-us Thu, 28 Oct 2004 00:00:00 +0530 Mon, 03 Jun 2024 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59297 The Tribunal addressed multiple issues, ruling that 25% of 'speed money' expenses were disallowed due to insufficient evidence. Bogus liabilities were scrutinized, allowing detention charges but requiring verification of brokerage and other charges. Surcharge under s. 113 was deemed inapplicable due to the search's timing. Employer's PF and ESIC contributions were allowed if paid before the tax return due date, while employees' contributions paid late were disallowed. Expenses on computer repairs and upgrades were treated as revenue expenditures, not capital, resulting in the deletion of the addition and withdrawal of any depreciation on capitalized amounts. Case-Laws Income Tax Thu, 28 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59297