Tribunal held that as no defects were found in the books of account maintined by the assessee ad-hoc disallowance of power and fuel expenses is held to be not justified. Employees’ contribution to provident fund and employees’ state insurance corporation though there was delay in depositing the said payment is allowable as deduction. (AY. 2011-12, 2015-16, 2016-17)
ACIT v. Ariba Foods Pvt. Ltd. (2021) 86 ITR 174 (Indore)(Trib.) ACIT v. Vyanktesh Plastics and Packaging Pvt. Ltd (2021) 86 ITR 174 (Indore)(Trib.) ACIT v. Famous Vanijya Pvt. Ltd. (2021) 86 ITR 174 (Indore)(Trib.)
S. 37(1) : Business expenditure-Power and fuel expenses-No defects in the books of account-Ad hoc disallowance is held to be not justified-Employees’ contribution to provident fund and employees’ state insurance corporation-Delay in depositing-Deduction allowable. [S. 36(1)(va)]