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2014 (9) TMI 157 - ITAT PUNEInflated price debited u/s 40A(2)(b) - Whether the assessee has inflated turnover to show higher profit for obtaining and continuing loan from financial institution – Held that:- The assessee has also never brought this aspect before the AO that there are also fictitious sales - assessee has only filed before the AO a copy of ledger extracts of Entraco Power Systems Pvt. Ltd. in the books of Engineering Marketing Company Pvt. Ltd. and vice versa - The ledger extract of the other related concerns are not filed in the paper book – the matter requires fresh adjudication at the level of the AO – thus, the matter is remitted back to the AO for fresh adjudication – Decided in favour of revenue. TDS u/s 40(a)(ia) not deducted as per chapter XVIIB – Held that:- Following the decision in Shri Antony D. Mundackal Versus The Assistant Commissioner of Income-tax [2013 (12) TMI 67 - ITAT COCHIN] – the arguments are being advanced before the Tribunal for the first time and the correctness of the contention has not been examined by the tax authorities – thus, the matter is remitted back to the Ao for fresh adjudication – Decided in favour of revenue. Payment made towards employees contribution of ESIC and PF – Payment made after the due date – Held that:- Although the PF & ESIC dues were not deposited within the statutory due date prescribed under the relevant Act, however, the same has been deposited within the same financial year, i.e. much prior to the due date of filing of the return - if the Employees Contribution to PF & ESIC, are deposited prior to the due date of filing of the return u/s.139(1), then the same cannot be disallowed - the assessee has deposited the PF & ESIC dues before the due date of filing of the return u/s 139(1) – the order of the CIT(A) is upheld – Decided against Revenue.
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