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2019 (10) TMI 237 - AT - Income TaxAccrual of income - Addition towards interest on bank fixed deposits - contention of the assessee that due to premature encashment of FDRs, the assessee has received lower interest income as against the interest so reflected in Form No. 26AS - DR submitted that during the course of assessment as well as appellate proceedings, the assessee has failed to produce any evidence to prove that the FDRs were encashed prematurely - HELD THAT:- We agree that mere reflection of certain transaction in Form 26AS is not determinative of holding such transaction as taxable transaction in the hands of the assessee. However, given that the transaction has been reflected in Form 26AS, the onus is on the assessee to demonstrate that such transaction doesn’t represent real income in its hands. In the instant case, we find that the assessee has failed to adduce any evidence in support of its contention that it has received lower interest income than what has been reflected in Form 26AS. Further, nothing has been brought on record to suggest that the Form 26AS has been subsequently modified/amended to reflect the actual interest payment to the assessee. In the result, the ground so taken is dismissed. Disallowance of ESI/EPF contributions u/s 36(1)(va) - HELD THAT:- As contributions were deposited before the due date of filing of the return of income u/s 139(1), in view of a series of decisions of the Hon’ble Jurisdictional High Court in favour of the assessee and further Hon’ble Supreme Court in case of PCIT vs. Rajasthan State Beverages Corporation Ltd. [2017 (7) TMI 1087 - SC ORDER] has dismissed the SLP filed by the Department this issue is decided in favour of the assessee and against the Revenue. Hence, disallowances/additions made by the AO on account of employees contribution to PF & ESI are deleted. - Decided in favour of assessee.
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