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M/s Modi Rubber Ltd. Versus Dy. Commissioner of Income Tax, Circle 5(1) and ACIT, Circle 5(1), Versus M/s Modi Rubber Ltd., - 2014 (2) TMI 675 - ITAT DELHI

Deletion made on account of delayed payment Payment to ESI and PF and superannuation fund u/s 43B of the Act Held that - The amounts were paid before the due date of filing of return for the assessment year under consideration Relying upon C.I.T. vs. Vinay Cement Ltd. 2007 (3) TMI 346 - Supreme Court of India - due date for payment of contribution towards superannuation fund relating to the financial year could only fall in the immediately following financial year - The amount of contribution towards superannuation funds gets qualified / crystalised only after the salary of the last month of the financial year has been paid, just on or after 31st March of that financial year and due date for payment of such contribution can only be after and not before the 31st March of the financial year thus, the findings of the CIT(A) accepted that the balance amount being superannuation fund was within the due date and the disallowance of the same u/s. 43B of the Act was not warranted - Decided aga ....... - .......


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