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Jhaveri Securities Ltd Versus The Asst. Commissioner of Income-tax

2018 (1) TMI 287 - ITAT AHMEDABAD

Disallowance on late payment of employees contribution to PF - Held that:- The issue is squarely covered against the assessee by Honíble jurisdictional High Courtís judgment in the case of CIT vs. Gujarat State Road Transport Corporation (2014 (1) TMI 502 - GUJARAT HIGH COURT), wherein it is categorically held that in the case of delayed deposit of employees contribution to PF, the same will not be deductable in computing income under section 28 of the Act.The law so laid down by the Honíble jur .....

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order dated 25th August 2015 passed by the by the CIT(A)-1, Vadodara, in the matter of assessment under section 143(3) of the Income-tax Act, 1961, for the assessment year 2012-13, on the following ground:- The Ld. CIT(Appeals)-1 has erred in law and in facts in confirming the disallowance of ₹ 1,87,869/- on account of late payment of employees contribution to PF without considering the explanation of the appellant. The impugned addition of ₹ 1,87,869/- being bad in law and contrary .....

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the disallowance following the judgment of the High Court in the case of Gujarat State Road Transport Corporation (GSRTC) 366 ITR 170 (Guj). The appeal filed by GSRTC is presently pending adjudication by the Hon ble Supreme Court. The appellant relies upon the recent decision of the Hon ble Rajasthan High Court in the case of Pr. CIT vs. Rajasthan State Beverages Corporation Ltd. 84 taxmann.com 173 (Raj.) wherein the delayed payment of employees contribution to PF is allowed, since the same is .....

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ull; Dialogic Network (India) (P) Ltd Vs. DCIT, 78 taxmann.com 349 (Mumbai ITAT) • Sagun Foundry (P) Ltd vs. CIT, 78 taxmann.com 47 (Allahabad) • Hindustan Organic Chemicals Ltd, 366 ITR 1 (Mum) • Essae Teraoka Pvt Ltd Vs. DCIT, 266 CTR 246 (Kar.) - decided in favour after considering the Hon ble Gujarat High Court order in the case of Gujarat State Road Transport Corporation above. • CIT Vs. State Bank of Bikaner & Jaipur, 363 ITR 70 (Raj.) Considering the above submissi .....

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