Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (9) TMI 966 - AT - Income TaxDisallowing employer’s contribution to superannuation fund u/s 36(1)(iv) - inaction on the part of PCIT to decide the application - superannuation fund under the head ‘employee’s benefit’ and charged to Profit and Loss Account - Whether assessee in getting approval of superannuation fund for which the assessee has framed a scheme for superannuation fund? - HELD THAT:- Application filed by the assessee is as long as in 2011 and till date there is no approval by the PCIT despite the assessee filing of necessary evidences and clarifications. It is also a fact that assessee has complied with all the other conditions for claim of deduction except approval which is to be granted by the Department. We see no reason that the assessee cannot claim deduction for the in action of the PCIT. Hence, we reverse the orders of the lower authorities and respectfully following the legal proposition laid down by High Courts in the above case laws, we allow the claim of the assessee.
|