2014 (8) TMI 677 - HC - Income Tax

Payment made to PF in ESI fund – amount to be added u/s 36(1)(va) r.w. section 2(24)(x) or not – Held that:- The CIT(A) as well as Tribunal was rightly of the view that where the payments on account of contribution to the provident fund, employees' State insurance, etc., are made within the due date of filing the return, such deductions are allowable - the provident fund contribution and the employees' State insurance was deposited before the due date of filing the return - Following the decision in CIT v. AIMIL Ltd. [2009 (12) TMI 38 - DELHI HIGH COURT] - if the employees' contribution is not deposited by the due date prescribed under the relevant Acts and is deposited late, the employer not only pays interest on delayed payment but can incur penalties also, for which specific provisions are made in the Provident Funds Act as well as the Employees' State Insurance Act – Decided against Revenue.