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2015 (1) TMI 974 - GUJARAT HIGH COURTDisallowance of belated payment of PF and ESIC - Tribunal deleted the addition made u/s. 43B - Held that:- In view of the subsequent decision of this Court in the case of Commissioner of Income Tax v. Gujarat State Road Transport Corporation, reported in [2014 (1) TMI 502 - GUJARAT HIGH COURT] all these appeals are required to be remanded to the appropriate authority for deciding the issue afresh. In the said decision, this Court held that any sum received by the assessee-employer from his employees as contribution to any provident fund or superannuation fund or any fund set up under the provisions of the Employees' State Insurance Act, 1948, or any other fund for the welfare of such employees shall be treated as an "income". Under Section 36(1)(va), the assessee shall be entitled to the deduction in computing the income referred to in section 28 with respect to any sum received by the assessee from his employees to which the provisions of sub-clause (x) of clause (24) of section 2 apply, if such sum is credited by the assessee to the employees' accounts in the relevant fund or funds on or before the "due date". As per the Explanation to section 36(1)(va) for the purpose of clause (x), "due date" means the date by which the assessee is required as an employer to credit the employees' contribution to the employees account in the relevant fund under the Act, rule, order or notification issued thereunder or under any standing order, award, contract or service or otherwise. Section 43B is with respect to certain deductions only on actual payment. The deletion of the second proviso to Section 43B and the amendment in the first proviso to section 43B by the Finance Act, 2003, is required to be confined to section 43B alone and the deletion of the second proviso to section 43B by the amendment pursuant to the Finance Act, 2003, cannot be made applicable with respect to section 36(1)(va) of the Act. Accordingly, all these matters are remanded to the Assessing Officer for deciding the matters afresh - Decided in favour of revenue for statistical purposes.
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