TMI Blog2011 (10) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee has filed an affidavit retracting the statement recorded during the course of survey, there is no material on record to show that the computer software and computer hardware to the extent of Rs.3.18 crores were actually purchased by the assessee. - Decided in favor of assessee. - 2639 OF 2009 - - - Dated:- 13-10-2011 - J.P. Devadhar K.K. Tated, JJ. Mr.Subhash S. Shetty, Amicus Curiae. Mr.Suresh Kumar i/by Mr.Vimal Gupta for the respondents. Mr.Ramesh Thadani, Director of the Appellant present in Court. ORAL JUDGMENT : (Per J.P. Devadhar, J.) 1. Since the advocate for the appellant has consistently remained absent on several occasions, we had asked the representative of the appellant, Mr.Thadan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the managing director and the chief accountant admitted that they have not purchased the computer software and computer hardware and out of the depreciation amounting to Rs. 4,32,96,085/agreed to offer the amount of Rs.3,18,24,076/for taxation. 5. Accordingly, on 26th December 2002, revised return was filed by the assessee withdrawing the depreciation amounting to Rs.3,18,24,076/. The revised return was accepted on 13th January 2003 under Section 143(1) of the Income Tax Act, 1961. Thereafter, the assessee sought to file rerevised return on 15th January 2003 along with an affidavit, wherein it was stated that in the revised return filed on 26th December 2003 the depreciation amount was erroneously withdrawn and wrongly offered to tax. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted that in the light of the judgment of the Apex Court in the case of Commissioner of Income Tax V/s. Alom Extrusions Limited reported in (2009) 319 ITR 306 (S.C.), disallowance of Rs.7,53,103/on account of late payment of provident fund cannot be sustained. 8. Mr.Suresh Kumar, learned Advocate appearing on behalf of the Revenue fairly stated that the issue relating to disallowance on account of late payment of provident fund dues would have to be decided in favour of the assessee in view of the decision of the Apex Court in the Alom Extrusions Limited (supra). As regards the additions of Rs.3,18,24,076/is concerned, he submitted that in view of the revised return filed by the assessee, the authorities below were justified in susta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... concerned, counsel on both sides agree that in view of the decision of the Apex Court in the case of Alom Extusions Limited (supra), the issue has to be answered in favour of the assessee. 12. Accordingly, the appeal is disposed by upholding the order of the Income Tax Appellate Tribunal in so far as it relates to bringing to tax the amount of Rs.3,18,24,076/offered to tax by the assessee in its revised return and by setting aside the order of the Income Tax Appellate Tribunal insofar as it relates to disallowing the provident fund dues paid belatedly. 13. The appeal is disposed off accordingly with no order as to costs. 14. Before concluding, we place on record our appreciation of the assistance rendered to the Court by Shri Subhas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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