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2017 (4) TMI 870 - AT - Income TaxContribution to State Renewal Fund - allowable expenditure - Held that:- We find that the similar issue has been decided in favour of the assessee by the judgment of the Hon’ble Rajasthan High Court rendered in the case of CIT vs. Rajasthan State Seeds Corporation Ltd.[2016 (9) TMI 59 - RAJASTHAN HIGH COURT ] as held any normal expenditure for the welfare and benefit of the employees is allowable expenditure under section 37(1), the Tribunal has come to a finding of fact that it was a legal obligation of the respondent-assessee towards contribution of the said amount to the State Renewal Fund and there being a legal obligation as well in our view the Tribunal has come to a correct conclusion. - Decided in favour of assessee Disallowance of prior period expenses - Held that:- As decided in assessee's own case CIT(A) has given a finding of fact that with respect to the Head Office an amount pertains to reversal of double income booked in F.Y. 2002-03 with respect to maintenance charges. The ld. CIT(A) has given further finding of fact that an amount with respect to the head Officer pertains to wrong entry of interest income in FY 2002-03 & 2003-04 with respect to toll project on capital deployed by the appellant. This finding of fat is not controverted by the ld. D/R by placing any material on record. We are in agreement with the observations of the ld. CIT(A) that reversal of income wrongly declared in earlier years, is allowable. Hence, this ground of the revenue is dismissed - Decided in favour of assessee Disallowance of u/s 80IA - Held that:- As in assessee’s own case in pertaining to the assessment year 2011-12 the assessee has demonstrated that the authorities below have taken incorrect figure of turnover. Another contention of the assessee is that the amount related to Head Office is already apportioned and, therefore, there was no need for apportionment of the same. We find merit in the contention of the ld. Counsel for the assessee. Therefore, the ground raised in the appeal of the revenue is dismissed. Disallowance of expenditure on account of depositing the employee’s contribution beyond the prescribed time limit - Held that:- The issue is no more res integra. The issue has been decided by the Hon’ble Jurisdictional High Court rendered in the case of CIT vs. State Bank of Bikaner & Jaipur (2014 (12) TMI 65 - RAJASTHAN HIGH COURT) and also in the case of CIT vs. Jaipur Vidyut Vitran Nigam Ltd. [2014 (1) TMI 1085 - RAJASTHAN HIGH COURT]
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