TMI Blog2019 (5) TMI 1441X X X X Extracts X X X X X X X X Extracts X X X X ..... has decided this issue in favour of the assessee but now with the decision of Hon ble High Court Delhi in the case of Bharat Hotels Limited [ 2018 (9) TMI 798 - DELHI HIGH COURT] the same has to be decided against the assessee and in favour of the revenue since the Hon ble High Court has held that employees contribution provident fund and ESI contribution has to be deposited within the grace period and since in the present case the deposit have been made after the grace period the same cannot be allowed. - Decided in favour of revenue Claim of deduction u/s.10 A and 80 IB - HELD THAT:- As decided in assessee's own case it cannot be said that the eligible units had borrowed funds from the Head Office - the debtors of the eligible u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under :- 1. The order of Ld. CIT(A) is not correct in law and facts. 2. On the facts and circumstances of hte case, the Ld. CIT(A) has erred in law in deleting the addition of ₹ 56,45,506/- made by AO on account of rotation of disallowance of u/s 14a read with Rule 8D. 3. On the facts circumstances of hte case, the Ld. CIT(A) has erred in law in deleting the addition of ₹ 1,92,295/- made by AO on account of disallowance of EPF ESI-contribution. 4. On the facts circumstances of the case, the Ld. CIT(A) has erred in law in deleting the addition of ₹ 1,70,632/- made by AO account of disallowance of u/s TO A of the income Tax Act, 1961. 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the judgment of the Special Bench of the Tribunal in the case of Cheminvest Ltd. Vs. CIT 121 ITD 318 which has been affirmed by the Hon ble High Court of Delhi 378 ITR 33 [DEL]. Similar view was taken in 399 ITR 483 and by the Hon ble Gujarat High Court in the case of Corrtech Energy Pvt. Ltd. 372 ITR 97. Respectfully following the same, we direct the Assessing Officer to delete the addition of ₹ 55,870/-. Ground No. 2 is allowed. 8. As no distinguishing fact has come to our notice respectfully following the findings of the coordinate bench, the ground No.1 is dismissed. 9. Issues raised vide ground No.3 were considered by the Tribunal in ITA No.3832/Del/2009 qua ground No.3 of its appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s had borrowed funds from the Head Office. Further, we find that the debtors of the eligible units were realized by the Head Office and accordingly, necessary entries were passed through Head Office account. Considering the factual matrix exhibited in the statement of account, it can be stated that the eligible units have not borne any financial charges and therefore, no allocation of financial charges is to be made between these eligible units. We do not find any error or infirmity in the finding of the Id. CIT(A). Ground No.2 is accordingly dismissed. 11. The DR stated that the issue may be restored to the files of the Assessing Officer for verification of the accounts. 12. We find that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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