Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (11) TMI 1170 - AT - Income TaxDelay in payment of employees’ contribution to the Provident Fund - Held that:- As it is noticed that the employees’ contribution to the Provident Fund has been paid before the due date of filing of the return as also before 31st March, 2008, in view of the decision of the Hon’ble Jurisdictional High Court in the case of Vijay Shree Limited [2011 (9) TMI 30 - CALCUTTA HIGH COURT] the disallowance as made by the Assessing Officer and as confirmed by the ld. CIT(Appeals) stands deleted.- Decided in favour of assessee. Disallowance of 20% of the expenses under the head "carriage inward", "carriage outward", "loading & Unloading expenses" and "labour charges" - independent verification could not be made to find out the authenticity of these expenses - Held that:- No estimated disallowance can be made for inability to make independent verification. If any specific expenditure is unverifiable or is un-vouched, then such specific expenditure is disallowable. Here no such specific identification has been done. In these circumstances, we are of the view that the estimated disallowance as confirmed by the ld. CIT(Appeals) is unsustainable. Consequently the same stands deleted - Decided in favour of assessee.
|