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2018 (9) TMI 1305 - AT - Income TaxAddition of bad debts written off - Held that:- As regards the bad debts, the CIT(A) following the decision of ITAT in the case of Shriram Chits (P) Ltd.[2013 (5) TMI 227 - ITAT HYDERABAD] on which reliance placed by the assessee, directed the AO to rework the disallowance of bad debts and allow accordingly. We do not find any infirmity in the findings of CIT(A) and hence, upholding the same, we remit the issue to the file of AO with a direction to rework the disallowance and allow the same in accordance with law. Disallowance on account of belated remittance of PF and ESI - the assessee stated before the CIT(A) amounts towards PF & ESI were paid beyond the due dates but paid before the end of FY therefore, directed the AO to verify whether the amounts were paid before the end of FY and if they are paid, the same may be allowed - Held that:- It is a settled position of law that if the contributions towards PF & ESI are paid beyond the due date but before filing of the return of income u/s 139(1) of the Act, no disallowance can be made. Therefore, upholding the stand taken by the CIT(A), we remit this issue also to the file of the AO to verify whether the amounts paid before filing of the return of income, if so, disallowance may be deleted.
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