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2011 (6) TMI 137 - HC - Income TaxDisallowance u/s 43B - Late payment of the employer's contribution to provident fund - As per the Supreme Court in the case of Commissioner of Income Tax Vs. Alom Extrusions Ltd. [2009 -TMI - 35073 - SUPREME COURT ] has observed that the omission of the second proviso to section 43B of the Income-tax Act, 1961, by the Finance Act, 2003, operated, retrospectively, with effect from April 1, 1988 and not prospectively from April 1, 2004 - The Appellate Tribunal is right in law and on facts in deleting the disallowance made u/s 43B of Rs.51,05,963/- being late payment of the employer's contribution to provident fund - Decided in favour of assessee.
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