2011 (9) TMI 1019 - AT - Income Tax

Summary

Issues involved: Appeal against CIT(A) orders regarding stamp duty expenses and employees' contribution to PF.

Stamp duty expenses: The department appealed against CIT(A) allowing 1/5th of stamp duty expenses for amalgamation paid late in April 2007. The Assessing Officer argued that the amount was not paid in the relevant assessment years and invoked section 43B of the Act. The assessee contended that the claim was justified as the stamp duty was paid in A.Y. 2008-09. CIT(A) held in favor of the assessee, stating that the deduction u/s 35DD was allowable automatically without the applicability of section 43B. The Tribunal upheld CIT(A)'s decision, noting that the deduction under section 35DD is available for five successive previous years from the year of amalgamation.

Employees' contribution to PF: The issue of addition made on account of employees' contribution to PF after the due date was raised. The assessee cited a judgment of the Delhi High Court in favor of the assessee. Following the precedent, the Tribunal decided this issue against the revenue and in favor of the assessee.

In conclusion, the appeal of the revenue was dismissed, and the decisions were pronounced on 30th September 2011.