TMI Blog2011 (7) TMI 717X X X X Extracts X X X X X X X X Extracts X X X X ..... the return, section 43B is attracted and the said contribution is liable to be deducted as expenditure - Decided in favor of the assessee - IT APPEAL NO. 559 OF 2006 - - - Dated:- 20-7-2011 - N. Kumar and Ravi Malimath, JJ. M.V. Seshachala for the Appellant. Murthy for the Respondent. JUDGMENT N. Kumar, J. This appeal was admitted to consider the following substantial que ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion under Section 80-IA of the Act when the same was not earned from the business carried on by the assessee? 2. In so far as the first substantial question of law is concerned, it is squarely covered by the judgment of the Apex Court in the case of CIT v. Alom Extrusions Ltd. [2009] 319 ITR 306/185 Taxman 416 where it has been held that if the employers contribute the ESI and EPF even when made ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd against the revenue. 4. In so far as the third substantial question of law is concerned, the learned counsel for the revenue relies on the judgment of the Apex Court in the case of Liberty India v. CIT [2009] 317 ITR 218/183 Taxman 349 and contends that the interest received by the assessee on the overdue bills is ineligible for deduction under Section 80-IA of the Act as the same was earned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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