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2015 (2) TMI 1024 - AT - Income TaxSetting off of brought forward business loss and unabsorbed depreciation - CIT(A) allowed setoff in the assessee of the amalgamated company for assessment year 2006-07, even the amalgamation was effective with effect from 01.04.2004 as per the order of the Hon’ble Calcutta High Court and the date of amalgamation thus falls within a period less than three years from the date of incorporation of the amalgamating company - Held that:- There is no evidence on record to prove that amalgamating company was engaged in business in which the accumulated loss occurred or depreciation remains unabsorbed for three or more years as on the date of amalgamation. Hence the order of ld. CIT(A) on this account is not sustainable since the assessee has not complied with the provision of section 72A(2)(a)(i) of the Act. - Decided in favour of revenue. Disallowance regarding employees’ contribution to PF and ESI - CIT(A) deleted addition - Held that:- The proposition law in this regard is settled in the case of CIT vs Vinay Cement Limited ( 2007 (3) TMI 346 - Supreme Court of India). If the contributions are made before the due date of filing the return no disallowance is to be made. In this case we note that the actual dates of payment are not available on record. Hence we remit this issue to the file of AO. AO shall examine the actual date of payments and allow the payments if the same are done before the due date of filing the return. - Decided in favour of revenue for statistical purposes.
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