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2007 (11) TMI 373 - HC - Income TaxBusiness expenditure- The assessee claimed deduction under section 43B of the Income Act of the amount contributed towards the provident fund and the employee’ state insurance. The Assessing Officer disallowed the claims on the ground that the amount was paid subsequent to the due date as specified in the second proviso to section 43B read with the Explanation to clause (va) of section 36(1) of the Act. The Commissioner (Appeals) set aside the order passed by the Assessing Office. Tribunal set aside the order of the Commissioner (Appeals) and restored order passed by Assessing Officer. Held that- non compliance with the second proviso to section 43B of the Act would result in disallowance so far as these payments were concerned. Since admittedly the assessee had failed to ensure compliance by the depositing the amount before the due date, the benefit of section 43B was rightly denied by the Assessing Officer and Tribunal.
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