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2017 (9) TMI 1711 - ITAT AHMEDABADAddition u/s.14A r.w. Rule 8D - Held that:- Both the lower authorities are of the opinion that the assessee’s investment involved at least this much expenditure in earning its exempt dividend income. The case file however indicates that the assessee has not derived any such exempt income in the impugned assessment year. We therefore quote hon’ble jurisdictional high court’s decision in CIT vs. Corrtech Energy P. Ltd [2014 (3) TMI 856 - GUJARAT HIGH COURT] holding that Section 14A read with computation provision enshrined in Rule 8D does not apply in absence of any exempt income in relevant previous year. We therefore quote the above judicial precedent to delete the impugned disallowance Addition u/s. 36(1)(va) r.w.s. 2(24) on account late payment of employees’ contribution to PF & ESI in question - Held that:- There is no dispute that hon’ble jurisdictional high court’s decision in CIT vs. Gujarat State Road Transport Corporation [2014 (1) TMI 502 - GUJARAT HIGH COURT] upholds such a disallowance in principle. The assessee’s case however is that relevant due date has to be seen not from the relevant month of salary but the one pertaining to its payment. He then files a computation chart indicating it to have paid above employees’ PF/ESI contributions on 22.05.2009 and 28.05.2009 as against the due dates thereof following on 20.06.2009. The Revenue fails to dispute this factual position. We therefore quote this tribunal’s co-ordinate bench decision in Kanoi paper & Industries Ltd. vs. ACIT [2001 (5) TMI 139 - ITAT CALCUTTA-E] that the relevant date in such case is that of month of the actual payment of wages/salaries. We therefore rely on the above co-ordinate bench decision and direct the Assessing Officer to delete the impugned disallowance as well. - Assessee appeal allowed
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