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2017 (12) TMI 806 - AT - Income TaxRevision u/s 263 - Belated payment of employees’ contribution to PF - Held that:- We find that the issue of belated payment of employees’ contribution to PF has been examined by the A.O. in assessment proceedings by issuing a specific questionnaire dated 13.01.2015 for which the assessee has filed a letter dated 16.02.2015 explaining the reason for delay in payment of PF. The assessee has also explained in the light of the decision of the Hon’ble Kerala High Court in the case of Kerala State Warehousing Corporation Limited (2009 (12) TMI 1010 - KERALA HIGH COURT) and argued that the employees’ contribution remitted after due date prescribed under respective Acts, but before the date of filing of return of income as per section 139(1) of the Incometax Act, 1961, cannot be disallowed in view of the amended provisions of section 43B. The A.O. after considering the explanation of the assessee has taken one of the possible views with which the CIT does not agree, it cannot be treated as an erroneous order prejudicial to the interest of the revenue, unless the view taken by the A.O. is unsustainable in law. We are of the view that the assessment order passed by the A.O. is neither erroneous nor prejudicial to the interests of the revenue. Therefore, we set aside the order passed by the CIT u/s 263 and restore the assessment order passed by the A.O. u/s 143(3) of the Act. - Decided in favour of assessee
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