The assessee, engaged in printing and publication of newspapers. The Assessing Officer disallowance of one-third of brand relaunch expenses treating them as capital in nature, disallowance under section 14A despite no exempt income being earned, disallowance of certain prior period expenses, disallowance under section 43B for delayed deposit of employees’ contributions to provident fund and ESI, disallowance under section 40(a)(i) for non-deduction of tax on payments to foreign news agencies, and additions based on discrepancies in interest receipts and bad debts as per Form 26AS. On appeal, the Tribunal held that  the brand relaunch expenses, not resulting in any enlargement of the profit-making apparatus or acquisition of enduring advantage, were substantially revenue in nature notwithstanding the benefit spreading over years, and were allowable; that since no exempt income was earned during the year, the Explanation to section 14A introduced by the Finance Act, 2022 being prospective could not be applied, and the disallowance was deleted; that the prior period expenses, having crystallised and been ascertained only during the year with no prior claim thereof, were allowable in the year under consideration; that the disallowance under section 43B for delayed payment of employees’ contributions to provident fund and ESI was rightly confirmed; that payments made to foreign news agencies for services rendered abroad, the payees having no PE in India, were exempt from taxation under the relevant DTAA and could not be disallowed under section 40(a)(i) for non-deduction; and that the directions of the CIT(A) to AO to verify and reconcile the discrepancies in interest receipts and bad debts called for no interference.(AY. 2010-11to 2012-13)