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2013 (5) TMI 200 - ITAT DELHIContribution to provident fund - addition made by AO under section 43B - CIT(A) deleted the addition - assessee is a cooperative society engaged in supply of sugar cane of it's members to sugar mills and trading of fertilizer with members etc. - Held that:- Contrition to PF to permanent staff in this case goes to UP Cane Federation Trust, Lucknow which is a recognized trust headed by Cane Commissioner, UP Government constituted under the UP Cooperative Societies Act, 1965 and controlled by Cooperative Cane Union Federation and Employees PF Trust Funds Rules, 1979 through a Board of Trustees. Thus, agreeing with CIT(A) that it is a special case of its own as the assessee has a separate regulation of their own for administration of PF concerned and thus provisions of section 43B are not applicable. - the PF to permanent seasonal staff was governed by the State Government Rules. The trust created for the purpose is duly registered under the I.T. Act. By the Rules itself, the assessee was permitted to convert such contributions into members deposits and pay the stipulated interest thereon. Such interest payments having been made as per the State Government Rules are not covered u/s. 43B. Against revenue.
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