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2022 (8) TMI 1221 - AT - Income TaxRevision u/s 263 by CIT - Disallowance of deduction u/s 43B on delayed employees contribution to provident fund - HELD THAT:- Hon‟ble Bombay High Court in the case of Ghatge Patil Transports Ltd. [2014 (10) TMI 402 - BOMBAY HIGH COURT] wherein it has been held that deduction for payment of employees‟ contribution cannot be disallowed in case the contribution of employees‟ share in the welfare funds got credited on or before the due date. In this case before us, admittedly, the amount in question was deposited before the due date u/s 139 clause (1) of the Act. D.R also could not refute the fact that the A.O had examined all these aspects and therefore, in our considered view the assessment order is neither erroneous nor prejudicial to the interest of the revenue. Respectfully following the aforesaid judicial pronouncement, we quash the revisionary order passed u/s 263 of the Act by the ld. Pr. CIT and allow the grounds of appeal of the assessee.
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