DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE, PATIALA vs. PUNJAB STATE POWER CORPORATION LIMITED, PATIALA

In the result, both the appeals filed by the Revenue are partly allowed

Bench: SHRI. VIKRAM SINGH YADAV (Accountant Member), SHRI. PARESH M. JOSHI (Judicial Member)

capital expenditure and the assessee company has duly followed those regulations and as such, the employee share of GPF was duly deposited well within time as required under section 36(1)(va) of the Act and therefore there cannot be any disallowance under the said provision. 19.4 It was further submitted that during the said period, the assessee company