Ravi Developments vs ACIT

Whether delayed payment of PF/ESI contributions deposited before filing return under Section 139(1) is allowable as deduction --- Held Yes; Whether addition for cessation of liability under Section 41 can be made without proper verification --- Held No, matter remanded; Whether disallowance of purchases as bogus based solely on VAT department's blacklisting without cross-verification is justified --- Held No; Whether interest on late deposit of TDS is allowable as business expenditure --- Held No; Whether disallowance under Section 40A(3) for cash payments is justified --- Not pressed; Whether miscellaneous expenses/donations are allowable as business expenditure --- Not pressed; Whether bonus expenses and depreciation disallowances are justified --- Not pressed.