| |
| The Tax Publishers2019 TaxPub(DT) 5052 (Mum-Trib) INCOME TAX ACT, 1961
Section 36(1)(va)
In view of the Jute Corporation of India Ltd. v. CIT (1991) 187 ITR 688 (SC) : 1991 TaxPub(DT) 505 (SC), assessee's claim for deduction of Employees contribution to PF and ESIC which were delayed but paid before due date of filing of Income Tax Return was admitted, even though said claim was not made in the return of income. Accordingly, the issue was restored back to AO.
|
Business deduction under section 36(1)(va) - Employees' contributions to PF & ESI - Claimed in assessment proceedings, whereas suo moto disallowed while filing the return of income -
During assessment proceedings, assessee made a new claim towards delayed payment of employees' contributions to PF & ESI which was suo moto disallowed by assessee while filing the return of income. However, AO and CIT (A) rejected said claim. Held: In view of the fact that assessee's correct income was to be computed and in view of Jute Corporation of India Ltd. v. CIT (1991) 187 ITR 688 (SC) : 1991 TaxPub(DT) 505 (SC), assessee's claim was admitted and issue was restored back to AO. AO was directed to allow the employee's contribution to PF and ESI after verifying that same were deposited before due date of filing of return of income and that the deduction of the same was not claimed by the assessee in any other assessment year.
Relied:Jute Corporation of India Limited v. CIT & Anr. (1991) 187 ITR 688 (SC) : 1991 TaxPub(DT) 505 (SC)
REFERRED : Goetze (India) Limited v. CIT (2006) 284 ITR 323 (SC) : 2006 TaxPub(DT) 1528 (SC)
FAVOUR : In assessee's favour by way of remand
A.Y. : 2013-14
INCOME TAX ACT, 1961
Section 14
 SUBSCRIBE FOR FULL CONTENT
|