2014 (10) TMI 402 - HC - Income Tax

Employees and employer’s contribution – Effect of amendment u/s 43B - Applicability of Commissioner of Income Tax V/s. Alom Extrusions Ltd. [2009 (11) TMI 27 - SUPREME COURT] - Whether the Tribunal was right in ignoring the distinction between the employees contribution and employer's contribution – Held that:- The employer assessee would be entitled to deduction only if the contribution to the employee's welfare fund stood credited on or before the due date and not otherwise – following the decision in Commissioner of Income Tax V/s. Alom Extrusions Ltd. [2009 (11) TMI 27 - SUPREME COURT] - both employees' and employer's contributions are covered under the amendment to Section 43B of I.T. Act - the Tribunal was right in holding that payments are subject to benefits of Section 43B – Decided against revenue.