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2015 (10) TMI 1516 - HC - Income TaxAddition under section 43B - failure to make provident fund contribution payments on due dates - ITAT deleted the addition - Held that:- Second proviso to section 43B of the Act came to be deleted and the first proviso came to be amended with effect from assessment year 2004-05. The amended first proviso provided that nothing contained in that section shall apply in relation to any sum which is actually paid by the assessee on or before the due date applicable in his case for furnishing the return of income under sub-section (1) of section 139 in respect of the previous year in which the liability to pay such sum was incurred as aforesaid and the evidence of such payment is furnished by the assessee along with such return. The Supreme Court in the case of Commissioner of Income Tax Kolkata-III v. Alom Extrusions Limited, (2009 (11) TMI 27 - SUPREME COURT) held that the second proviso to section 43B of the Act, which came into effect from 1st April, 2004 is retrospectively applicable with effect from 1st April, 1988. The controversy involved in the present case stands concluded by the above decision which would be squarely applicable to the facts of the present case. Under the circumstances, the view adopted by the Tribunal being in consonance with the law laid down by the Supreme Court in the above decision, it cannot be said that there is any infirmity in the impugned order passed by the Tribunal in upholding the order passed by the Commissioner (Appeals) in deleting the addition made under section 43B of the Act. Decided in favour of the assessee.
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