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Commissioner of Income-tax, Cochin Versus South India Corporation Ltd.

2015 (7) TMI 9 - KERALA HIGH COURT

Entitlement to claim deduction of the belated payment to Provident Fund - Held that:- In terms of the Explanation to clause (va) of Section 36(1) of the Income Tax Act, such sums paid after the due date cannot be claimed as other deductions in terms of Section 36 of the Income Tax Act. This is pointedly so because in terms of Section 43B of the Income Tax Act, deductions are to be only on actual payment. These two provisions were considered in Hitech (India) Pvt. Ltd., vs. Union of India and oth .....

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o deduct the said amount in computing his business income. But, Section 43B controls the allowability of deduction of payment specified in clauses (a) to (d) thereof and provides certain conditions subject to which alone the deductions may be permissible. Enunciating the point, it was held that deduction would be available only if the remittance to the fund is made within the due date fixed for making such remittance into the fund; in the case in hand, the Provident Fund. So much so, the questio .....

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3-2015 - THOTTATHIL B. RADHAKRISHNAN AND K. HARILAL, JJ. For The Petitoner : P.K.R. Menon, Sr. Counsel, GOI (Taxes) For the Respondent : B.S. Krishnan and K. Anand, Advs. Thottathil B. Radhakrishnan, J. The only question referred by the Income Tax Appellate Tribunal, in these two matters, is as follows: "Whether, on the facts and in the circumstances of the case and also in the light of the clear provisions of Explanation to clause (va) of Section 36(1) and Section 43B read with the decisio .....

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relating to the assessment year 1993-94. The Department took the stand that the assessee is not entitled to the deduction on the ground that the payment has not been made on the due date as defined in the Explanation to clause (va) of sub-section (1) of Section 36 of the Income Tax Act. The CIT Appeals followed the Tribunal decision in I.T.A. Nos.194 (Coch)/92 and 361 (Coch)/94. The Department's contention in the case in hand was left unanswered leaving it open to the Department to make a re .....

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