2000 (11) TMI 18 - HC - Income Tax

Summary

The High Court of Madras dismissed an application to substitute Pondicherry Textile Corporation as a respondent in a case involving liability transfer. The court ruled that damages paid under section 14B of the Employees' Provident Funds Act are deductible only to the extent they are compensatory, following a Supreme Court decision. The Tribunal's order allowing full deduction without considering compensatory nature was deemed incorrect.