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2017 (6) TMI 1356 - AT - Income TaxDelayed employee’s contribution to Provident Fund - HELD THAT:- Section 43B of the Act will not override the provisions of Section 36(1)(va) of the Act with respect to employee’s contribution to provident fund. As pertinent to mention that though employee’s & employer’s contribution to P.F are remitted by the employer, they are separate and distinct for which independent provisions have been cast under the Act. Employee’s contribution to P.F., is nothing but appropriation of a portion of the salary which is legitimately due to the employee and remitted by the employer in the Government treasury on behalf of the employee in accordance with the provisions of the relevant P.F., Act. Hence it is crystal clear from Section 36(1)(va) of the Act that with respect to remittance of employee’s contribution to recognized Provident Fund, deduction will be allowable to the assessee only if the same is remitted within the due date mentioned in the relevant P.F. Act and with respect to employer’s contribution to recognized Provident Fund, Section 43B of the Act makes it clear that deduction will be allowable if the remittance is made with in the due date of filing the return of income. For the above stated reasons we do not find any infirmity in the order of the Ld. Revenue Authorities. Accordingly, we confirm the Order of the Revenue Authorities on this issue. Belated remittance of Employees contribution towards ESI - HELD THAT:- Since with respect to employee’s contribution to ESI, provisions of Section 36(1)(va) of the Act apply by virtue of Section 2(24)(x) of the Act, the decision with respect to employee’s contribution towards PF supra will hold good. Accordingly, this issue is also held against the assessee. Professional consultancy charges paid without deducting TDS - HELD THAT:- We remit back the matter to the file of the Ld.AO to decide the issue in the light of the decision of ANSAL LAND MARK TOWNSHIP (P) LTD. [2015 (9) TMI 79 - DELHI HIGH COURT] after duly verifying the return of income filed by M/s. Manohar Chowdhry Associates and M/s. SAP BPO Services Pvt. Ltd which shall be produced by the assessee before the Revenue Authorities with all requisite particulars. This issue is accordingly disposed off. Deduction u/s.10B of the Act with respect to interest income - HELD THAT:- We merit in the submission of the assessee because the interest income will neither form part of export turnover nor total turnover as it has to be taxed under the head ‘Income from other sources’. Therefore the ratio laid down in the case Pentasoft Technologies Ltd. [2010 (7) TMI 75 - MADRAS HIGH COURT] will apply in the case of the assessee - We hereby direct the Ld.AO to delete the interest income from the export turnover and total turnover if the same is so included in the export turnover &/or total turnover, while computing deduction u/s.10B.
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