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Assistant Commissioner of Income Tax Versus M/s Deccan Overseas Exports Ltd.

Disallowance in respect of contribution to the employees PF & ESI u/s.43B - Held that:- As decided in M/s. Farida Shoes Pvt. Ltd. [2016 (2) TMI 376 - ITAT CHENNAI] as the assessee had remitted the employees contribution beyond the due date for payment, but within the due date for filing the return of income, thus no disallowance required - Decided in favour of assessee

Disallowance made u/s.40(a)(ia) - non deduction of tds - payments of Commission, contract payments, professional char .....


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schedule of sundry creditors showing whether the amount was outstanding at the end of the close of the previous year in the name of the party or outstanding expenses. The Assessing Officer was to verify the matter and examine afresh. If no amount was outstanding at the close of the previous year in respect of the expenses either as outstanding expenses or as sundry creditors, the amount could not be disallowed. Hence the amount outstanding as payable at the end of the close of the Financial yea .....


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er. - ITA No. 1414/Mds./2013 - Dated:- 22-1-2016 - Chandra Poojari, AM And G. Pavan Kumar, JM For the Appellant : Mr A B Koli, JCIT-DR For the Respondent : Mr S Sridhar, Adv ORDER Per Chandra Poojari, Accountant Member This appeal is filed by the Revenue is directed against the order of the Learned Commissioner of Income Tax(A)-IX, Chennai dated 28.03.2013 pertaining to the assessment year 2006-07. 2. The first ground for consideration is with regard to deletion of disallowance of ₹ 7,78,6 .....


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d raised in the appeal pertaining to employee's contribution towards PF & ESI after due date as prescribed under the Act. Similar issue came up for consideration before the Tribunal in the case of M/s.Farida Shoes Pvt. Ltd., in ITA No.2102 & 2103/Mds./2015 vide order dated 08.01.2016 wherein the Tribunal held as follows:- "12. We have heard both the parties and perused the material on record. This issue was considered by the Jurisdictional High Court in the case of CIT v. M/s. I .....


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i.e., the date of insertion of first proviso. The Delhi High Court in the case of CIT v. Amil Ltd. reported in 321 ITR 508 held that if the assessee had deposited employee's contribution towards Provident Fund and ESI after due as prescribed under the relevant Act, but before the due date of filing of return under the Income Tax Act, no disallowance could be made in view of the provisions of Section 43B as amended by Finance Act, 2003. 6. In the present case, the assessee had remitted the em .....


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he Jurisdictional High Court, we do not find any infirmity in the order of the Commissioner of lncome-tax (Appeals) and the same is confirmed. This ground of appeal of the Revenue is dismissed." Since the issue in this appeal is identical and similar to the ratio laid down by the Tribunal in the above cited case, we are inclined to dismiss the ground raised by the Revenue. 5. The second ground for consideration is with regard to deletion of disallowance made u/s.40(a)(ia) of the Act in resp .....


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