High Court Of Madras
CIT vs. Salem Co-Operative Spinning Mills Ltd.
R. Jayasimha Babu & A.K. Rajan, JJ.
TC No. 499 of 1999 (Appeal No. 34 of 1999)
3rd December, 2001
Counsel Appeared : Chitra Venkataraman, for the Revenue
R. Jayasimha Babu J.
The judgment of the Court was delivered by There is no merit in this appeal. The Tribunal has rightly held that the amounts paid towards provident fund and ESI dues were amounts which were required to be deducted while computing the taxable income of the assessee. The amounts had been paid within the grace period provided under the relevant statutes. The appeal is dismissed.
[Citation : 258 ITR 360]