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2006 (2) TMI 115 - HC - Income TaxRemodelling of the generator - contribution to the ESI - "1. Whether, on the facts and circumstances of the case, the Tribunal was right in holding that the remodelling of the generator as revenue expenditure? - we hold that the expenditure on remodelling of the generator is revenue expenditure - 2. Whether, on the facts and circumstances of the case, the Tribunal was right in holding that the contribution to the ESI (employees State insurance), 1994, is allowable deduction under section 43B?" - held that the payments towards provident fund and employees State insurance having been made within the grace time allowed under the relevant statute, those amounts were required to be deducted in the computation of the taxable income of the assessee
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