“Section 279(2)”
The decision most relied on for Section 279(2) is 279 ITR 331/149 Taxman 15 (Guj.); 5. CIT v. Sabari Enterprises (298 ITR 141), cited in 706 judgments on BharatTax.
Leading authorities on Section 279(2)
Employee contributions to provident fund or ESI, even if deposited after the due date specified in the respective welfare statutes, are allowable as a deduction under Section 36(1)(va) if paid before the due date for filing the income-tax return. This judgment aligns the treatment of employee contributions with employer contributions under Section 43B.
The assessee must consistently follow one method of accounting and cannot arbitrarily change it, particularly in contravention of Section 145 of the Income Tax Act. This principle prohibits changes in accounting methods that are not in conformity with the law.
Education encompasses a broad range of activities beyond formal schooling, including systematic training designed to impart knowledge and skills, reflecting the acceptance of new ideas and the development of means to reach recipients. The definition of education should not be confined to a narrow or pedantic sense.
When lending money is not the business of a company, loans or advances given to an assessee-shareholder are treated as deemed dividends under section 2(22)(e) of the Income-tax Act. The provisions of section 2(22)(e) apply to a company that has taken a loan from its subsidiary.
