TMI Blog1997 (2) TMI 95X X X X Extracts X X X X X X X X Extracts X X X X ..... It arises from the order of the Income-tax Appellate Tribunal, Cochin Bench, in I. T. A. No. 799/(Coch.) of 1988. The relevant assessment year is 1985-86. The following are the questions referred for the opinion of this court : " 1. Whether the Tribunal is right in law and on facts in holding that the assessee is not entitled to deductions under section 43B of the Income-tax Act, 1961, in respec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income-tax (Appeals) took the view that the amount was due to be paid only on April 15, 1985, and since it was paid on that day, section 43B of the Act has no application in the case. On second appeal by the Revenue, the Tribunal did not agree fully with the Commissioner of Income-tax (Appeals). The Tribunal took the view that provision for contribution towards provident fund will ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... employers' contribution coming to Rs. 80,853 is concerned, the Tribunal rejected the contention of the assessee. The relevant portion of section 43B reads as follows : " 43B. Certain deductions to be only on actual payment.--Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of--.... (b) any sum payable by the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded that the assessee is entitled to claim deduction of the above amount in its assessment for the financial year ending March 31, 1985. We find that the contention. raised by the assessee is not liable to be accepted in view of the specific provisions contained under section 43B. The sum payable under clause (b) of section 43B can be allowed only in computing the income of that previous year in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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