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2023 (3) TMI 393 - AT - Income TaxEmployee contribution of provident fund and ESI paid beyond due date - adjustment u/s 143 (1) - HELD THAT:- Hon’ble Apex Court in CHECKMATE SERVICES P. LTD. VERSUS COMMISSIONER OF INCOME TAX-1 [2022 (10) TMI 617 - SUPREME COURT] has expounded that the employees’ contribution retains its character as income (albeit deemed) by virtue of section 2(24)(x) unless the conditions spelt by Explanation to section 36(1)(va) are satisfied i.e. depositing such amount received or deducted from the employee on or before the due date. Elaborating upon the same, further Hon’ble Apex Court had held that employer’s liability is to be paid out of its income whereas the second is deemed an income, by definition, since it is the deduction form the employees’ income and held in trust by the employer. Hence, the above adjustment as done by the CPC u/s 143(1)(iv) and has now the sanction of Hon’ble Apex Court in the case of Checkmate Services Pvt. Ltd. [2022 (10) TMI 617 - SUPREME COURT] - assessee’s thrust that the issue is debatable is not at all sustainable inasmuch as it is not relevant as per the extant provision of law contained in section 143 (1). Clarifies the matter from the very beginning itself. In this view of the matter, in our considered view, there is no infirmity in the order of ld. CIT (A). Hence, we uphold the same. Appeal of the assessee stands dismissed.
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