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2013 (10) TMI 1069 - ITAT DELHISuppressed valuation of bagasse - CIT deleted disalloance - Held that:- in the instances given by the assessee during the assessment proceedings there are some instances of lower yield also as compared with that of assessee, which the AO has ignored. The submission of the assessee during the preceding years that certain portion of preceding March month were also taken into account in the concerned year have not been considered by the authorities below. AO has also not given any finding on the assessee's contention that production of baggase and its consumption into the boiler is a continuous process and it is not practically possible to maintain any stock record in this regard. AO has not addressed this also - Matter remitted back. Income from Business or agriculture income - Net cane nursery farm income - Held that:- it is not disputed that income from cane nursery was on account of growing of cane and sale thereof. This is admittedly an agricultural income. Only because as a result of this operation, good quality of cane can also be identified can not lead to the conclusion the activity it is not an agricultural income - Decided against Revenue. Disallowance u/s 36(1)(va) - Employees contribution towards EPF - amount for the month of June,2007, August, 2007, September, 2007, December, 2007, January, 2008, February, 2008 and March, 2008 received from employees as contribution towards Provident Fund on or before due date specified under Employee's Provident Fund Act/Rule - Held that:- The deductions made from the employees' salary for employees provident fund has been paid before the due date of filing of return. It is clear from the table submitted before the Assessing Officer which has been reproduced in its order. Proof of payment was also submitted along with the return of income - CIT (A) has allowed the relief in Uttaranchal jurisdiction when such payments were made before due date of filing return of income and such relief has been finally upheld by the ITAT. Considering these facts and amendment in Act by Finance Act, 2003 w.e.f. 01.04.2004 and various case laws - Decided against Revenue.
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