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2022 (5) TMI 824 - AT - Income TaxAddition of amount paid towards ESIC and EPF of the employees - whether amount being ESIC and EPF, being a business expenditure incurred for the purpose of business having been paid before the filing of the return of income, the same being an allowable business expenditure - HELD THAT:- As there is no dispute between the parties regarding the date of deposit of PF & ESI, which clearly is beyond the prescribed date of deposit as applicable under the relevant section of the I.T. Act. Further, there is no dispute between the parties that the deposits were made before the filing of return of income for the relevant assessment year. The Hon'ble Allahabad High Court, in the case of 'Sagun Foundry (P.) Ltd.[2016 (12) TMI 1479 - ALLAHABAD HIGH COURT] has dealt with a similar issue and after taking into account the judgment of the Hon'ble Supreme Court in the case of 'CIT vs. Alom Extrusion Ltd.' [2009 (11) TMI 27 - SUPREME COURT] has decided the issue in favour of the assessee. Also amendment brought in by the Finance Act, 2021, has decided the issue in favour of the assessee by holding the amendment to be applicable from April 2021 only. Appeal of the assessee stands allowed.
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