TMI Blog2024 (2) TMI 689X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee on this ground is partly allowed. Disallowance u/s 43B - PF ESI payable - as submitted that the amount payable to PF ESI does not belong to relevant year rather it belongs to earlier years - HELD THAT:- As we hold that the revenue authorities erred in making addition on account of PF ESI because assessee did not claim this as a deduction in the year under consideration. Non-payment of TDS u/s 43B - As we hold that there is a separate section 40(ia) of Act which provides that if an assessee fail to deduct any tax at source or after deduction fails to deposit the said TDS to the Govt, account before due date of filing of return of income u/s 139(1) of the Act then the AO may made addition equivalent to 30% of the amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sly erred in law in upholding addition of Rs. 33,25,689/- for disallowance u/s. 43B. 2.2 That no addition u/s. 43B should have been made once the profit is estimated and books of accounts are rejected u/s. 145(3). 2.3 That without prejudice, no disallowance u/s. 43B should have been made on merits of the case. 3. That under the facts and circumstances, no interest u/s. 244A, 234B 234C should have been charged, in any case, the calculations are erroneous and excessive. 3. The assessee company was engaged in the business of event management services and provides artists for performance in party and weddings. The assessee filed return of income on 30.09.2015 declared total income of Rs. 5,90,560/-. 4. Brief facts of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2,62,652.00 -71,219.00 41,48,778.00 NP Ratio 0.82 0.21 5.94 6. The ld. AR placed reliance on following judicial pronouncements: L.P.R. Construction Vs. DCIT, Circle-1 2021 (7) TMI 796 - ITAT ALLAHABAD. Om Prakash Singh Vs. ACIT, Circle-3, Mathura 2019 (8) TMI 830 - ITAT AGRA. CIT, Patiala Vs. M/s Hind Agro Industries 2015 (12) TMI 1407 ITAT CHANDIGARH 7. On the other hand, the ld. DR submitted that the assessee has not produced any details of the expenses and the provisions of Section 145(1) of the Income Tax Act, 1961 have been duly and rightly invoked by the Assessing Officer. The assessee insp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,00,000/- payable to PF ESI does not belong to relevant year rather it belongs to earlier years. Hence, we hold that the revenue authorities erred in making addition on account of PF ESI because assessee did not claim this as a deduction in the year under consideration. 12. With regard to the non-payment of TDS u/s 43B of the Act, we hold that there is a separate section 40(ia) of Act which provides that if an assessee fail to deduct any tax at source or after deduction fails to deposit the said TDS to the Govt, account before due date of filing of return of income u/s 139(1) of the Act then the AO may made addition equivalent to 30% of the amount on which such tax deducted. Section 43B mainly covers expenses that are allowed to be c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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