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2018 (8) TMI 1634 - AT - Income TaxAddition on account of employees contribution to ESI & PF - Held that:- This issue is covered by the decision of the Hon’ble Jurisdictional High Court in the case of CIT Vs SBBJ (2014 (5) TMI 222 - RAJASTHAN HIGH COURT). An identical issue was considered and decided by this Tribunal in assessee’s own case for the A.Y. 2009-10, 2010-11 and 2012-13 as held where the PF and/or EPF, CPF, GPF etc., if paid after the due date under respective Act but before filing of the return of income u/s 139(1), cannot be disallowed u/s 43B or u/s 36(1)(va) of the IT Act – Decided against Revenue. Disallowance made U/s 14A r.w.r. 8D - Held that:- When no dividend was received by the assessee during the year under consideration and also no fresh investment was made during the year then no expenditure has been incurred by the assessee during the year under consideration except the interest expenditure if any for the purpose of investment. Since the investment in the sister concerns are old one, therefore, an identical issue was considered and decided by this Tribunal in assessee’s own case for the earlier assessment years including the A.Y. 2012-13 and when the disallowance made by the Assessing Officer in the earlier year has been deleted by this Tribunal and the decision of this Tribunal has been confirmed by the Hon’ble Jurisdictional High Court then in absence of any fresh investment or dividend received by the assessee during the year under consideration, no disallowance to be made - Decided against Revenue. MAT - adjustment made in the book profit computed U/s 115JB of the Act in respect of share of the assessee in the income of the joint venture - whether the share of profit from AOP/Joint Venture shall be excluded for the computation of book profit U/s 115JB? - CIT-A holding that clause (iic) inserted in Explanation 1 to sec. 115JB by Finance Act, 2015 is remedial and curative in nature - Held that:- Once the share in the joint venture which is treated as share in the association of persons is not hit by the second proviso to Section 86 then the same is akin the share from the partnership firm. Thus to bring it to the parity of share in partnership firm, the amendment in Section 115JB of the Act vide Finance Act, 2015 was brought by inserting clause (iic) w.e.f. 1/4/2016. Therefore, the purpose and intention to bring the amendment is to remove the mischief or hardship of the assessee on MAT in respect of the income being share in the association of persons or body of individuals which is otherwise not subject to income tax in accordance with the provisions of Section 86 of the Act. The amendment was brought to remove the hardship and bring the parity of the income being share in the association of persons or body of individuals, which is otherwise not liable to tax as per the provisions of Section 86 of the Act, the same shall have retrospective application. In absence of any contrary precedent brought to our notice and to maintain the rule of consistency, we follow the decision of Mumbai Benches of the Tribunal in the case of M/s Goldgerg Finance Pvt. Ltd. Vs ACIT [2017 (2) TMI 643 - ITAT MUMBAI]. Accordingly, we do not find any error or illegality in the order of the ld. CIT(A) qua this issue. Hence, this ground of revenue’s appeal stands dismissed.
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