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Belated payment of employee's PF contribution is allowable if paid before due of filing return; SLP dismissed

March 19, 2020[2020] 114 taxmann.com 573 (SC)

INCOME TAX : SLP dismissed as withdrawn due to low tax effect against High Court ruling that provident fund/employees' provident fund/contributory provident fund/general provident fund, etc., if paid after due date under respective Act but before filing of return of income under section 139(1), same cannot be disallowed

INCOME TAX : SLP dismissed as withdrawn due to low tax effect against High Court ruling that privilege fee paid by assessee to Government for procuring right to manufacture or/and sale of liquor had a direct nexus and connection to carry on and continue business of assessee-company and, therefore, was allowable as business expenditure under section 37(1)

INCOME TAX : SLP dismissed as withdrawn due to low tax effect against High Court ruling that unpaid excise duty on goods in stock that had not left premises/factory/bonded warehouse, could not be added to value of closing stock

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