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2012 (8) TMI 365 - AT - Income TaxEmployees’ contribution to PF and ESIC - dis-allowance - delayed payment - Held that:- If the employee’s share of contribution is paid before the due date of filing of the return u/s 139(1), then no dis-allowance can be made. Omission of second proviso to section 43B is operated retrospectively - Decided in favor of assessee. Addition on account of low G.P. - AY 05-06 - A.O. made the impugned addition following the addition made in the assessment for the A.Y. 2004-05 - Held that:- In the absence of any material show that the purchases are vouched and verifiable and considering the fact that in the A.Y. 2004-05, the Tribunal has restricted the addition to 2% of the cash purchases, we are of the view that in the interest of justice it will be fair and reasonable if the addition of 1% of the cash purchases is sustained - Decided partly in favor of Revenue
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