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2013 (12) TMI 1483 - HC - Income TaxEligibility for deduction u/s 43B - payments of PF and ESIC paid beyond the due dates of the respective Acts, including the grace period - Held that:- Considering the fact that it was the case of employees contribution which was not deposited within the prescribed period under the PF Act and ESI Act, the said question / issue is to be held in favour of revenue and against the assessee in view of the decision of this Court in COMMISSIONER OF INCOME TAX II Versus GUJARAT STATE ROAD TRANSPORT CORPORATION [2014 (1) TMI 502 - GUJARAT HIGH COURT] wherein it has been held that if the assessee has not deposited employees contribution towards PF and ESIC Act, the assessee shall not be entitled to the deductions in the same year. - Decided in favour of the revenue. Excise duty and sales - whether will not be included in the total turnover while calculating the deduction u/s. 80HHC of the even after insertion of Section 145A - Held that:- The said question is squarely covered by the decision of the Hon’ble Supreme Court in the case of Lakshmi Machine Works (2007 (4) TMI 202 - SUPREME Court) and in the case of Shiva Tex Yarn Limited (2012 (9) TMI 658 - SUPREME COURT), wherein held tax under the Act is upon income, profits and gains. It is not a tax on gross receipts. Under Section 2(24) of the Act the word "income" includes profits and gains. The charge is not on gross receipts but on profits and gains. The charge is not on gross receipts but on profits and gains properly so-called.Income from rent, commission etc. cannot be considered as part of business profits and, therefore, they cannot be held as part of the turnover also.Tribunal was right in holding that the excise duty and sales will not be included in the total turnover while calculating the deduction u/s. 80HHC of the even after insertion of Section 145 A - Decided against the revenue.
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