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2018 (6) TMI 363 - AT - Income TaxTPA - working of margin of assessee and comparables by adopting the PLI of net margin / operating revenue - Held that:- We are inclined to restore the issue to the file of the Assessing Officer for deciding afresh after considering assessee’s claim of adopting the PLI of net margin / operating revenue and also examining working of margins submitted by the assessee. AO shall decide the issue keeping in view our observations and only after extending reasonable opportunity of being heard to the assessee. Grounds raised by the assessee are partly allowed for statistical purposes. Disallowance of employer’s contribution to provident fund and ESI - Held that:- By virtue of the amendment made to section 43B employer’s contribution to provident fund / ESI is allowable as deduction if they are paid before the due date of return of income to be filed for the relevant assessment year. The Hon'ble Jurisdictional High Court has expressed such view in case of Hindustan Organics Ltd.[2014 (7) TMI 477 - BOMBAY HIGH COURT]. We direct the Assessing Officer to allow assessee’s claim of deduction in respect of employer’s contribution to provident fund and ESI if they have been made before the due date of filing of return of income for the impugned assessment year.
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