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2015 (7) TMI 1350 - AT - Income TaxAddition u/s 2(24)(x) and 36(1)(vi) - not depositing the contribution of employees towards provident fund of the employees of the assessee - obligation to make the payment of PF to the Trust within any due date - HELD THAT:- The explanation to section 36(1)(va) defines the due date means the date by which the assessee is required as an employer to credit an employees contribution to the employees account in the relevant fund, under any Act, Rules, order, or notification issued thereunder or under any standing order, award, contract of service or otherwise. NO SPECIFIC DATE FOR DEPOSIT OF THE P.F. BY BOARD Thus in the case of the MPSEB the PF is governed by its own Rules. There is no specific date of payment but the internal arrange is such the payments are made regularly on adhoc basis and the amount remaining unpaid, if any, is treated as invested with the MPSEB and carries interest,. The amount is deemed as paid and invested with the Board and carries interest accordingly to Rule 11 as mentioned above - Decided in favour of assessee
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