TMI Blog2016 (10) TMI 1059X X X X Extracts X X X X X X X X Extracts X X X X ..... td. (2010 (8) TMI 77 - BOMBAY HIGH COURT ), wherein, it was held that the application of section 14A of the Act is constitutionally valid and Rule 8D is applicable from the assessment year 2008-09 and onwards. In view of the provisions of clause (iii) to Rule 8D(2), any investments made would definitely involve certain administrative and establishment cost since the decision to make investments, track investments, and follow-up activity would entails definite costs. Under the above facts and circumstances, we set aside the order of the ld. CIT(A) on this issue and sustain the disallowance made by the Assessing Officer under section 14A of the Act. Thus, the ground raised by the Revenue is allowed. - I.T.A. No. 865/Mds/2016 - - - Dated:- 7- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee carried the matter in appeal before the ld. CIT(A). After considering the submissions of the assessee and also considering various decisions, the ld. CIT(A) has allowed the appeal filed by the assessee. 4. On being aggrieved, the Revenue is in appeal before the Tribunal by raising two grounds with regard to the deletion of disallowances made under section 36(1)(va) of the Act and also under section 14A of the Act. By referring to the Board s Circular dated 17.12.2015, the ld. DR has argued that the provisions of section 43B of the Act will be applicable only in respect employer s contribution to the funds for the welfare of employees and not in respect of the employer s contribution to the funds. Further, with regard to the d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Contribution to PF within the due dates stipulated. When the assessee was asked to explain, the assessee has submitted that due to paucity of funds, the contributions were paid late. Thus, the Assessing Officer made the disallowance since the assessee was not remitted the above contributions within the due dates. By reiterating the submissions as made before the Assessing Officer, before the ld. CIT(A), the assessee has contended that the remittance were made before the due date for filing of the return, the same should be treated as an allowable deduction. He also relied on various decisions and pleaded that the disallowance should be deleted. After considering the submissions of the assessee and by considering various including the decis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeals before the Commissioner of Income Tax (Appeals) challenging the reopening as well as the disallowance. The Commissioner of Income Tax (Appeals) sustained the order of the assessment, thereby dismissed the appeals. Aggrieved by the same, the assessee preferred further appeals before the Tribunal. The Tribunal relied upon the decision of the Supreme Court in the case of CIT V. Alom Extrusions Ltd. reported in 319 ITR 306, decision of the Delhi High Court in the case of CIT V. Amil Ltd. reported in 321 ITR 508 and that of the Co-ordinate Bench of the Tribunal in the case of M/s.Venkateswara Electrical Industries P. Ltd. V. DCIT in ITA Nos.1344, 1345 and 1636/Mds/2014 dated 28.8.2014 held as follows: 5. Heard both sides. Perused ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y in remittance of employees contribution of ESI and Provident Fund in both the AYs i.e., 2008-09 2009-10. It is equally un-disputed that the assessee has deposited the amount towards employees contribution of ESI and Provident Fund before the due date of filing of return. The Hon'ble Delhi High Court in the case of Cit Vs. Amil Ltd., reported as 321 ITR 508 has held that if the assessee had deposited employees contribution towards Provident Fund and ESI after due date 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 the Finance Act, 2003. The decision of the Hon'ble Delhi High Court has be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 employees contribution beyond the due date for payment, but within the due date for filing the return of income. Hence, following the above-said decisions, we find no reason to differ with the findings of the Tribunal. Accordingly, we find no question of law much less any substantial question of law arises for consideration in these appeals. Accordingly, both the Tax Case (Appeals) stand dismissed. No costs. Consequently, M.P.No.1 of 2015 is also dismissed. 7. Respectfully following the ab ..... X X X X Extracts X X X X X X X X Extracts X X X X
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