TMI Blog2015 (7) TMI 1350X X X X Extracts X X X X X X X X Extracts X X X X ..... in the case of the MPSEB the PF is governed by its own Rules. There is no specific date of payment but the internal arrange is such the payments are made regularly on adhoc basis and the amount remaining unpaid, if any, is treated as invested with the MPSEB and carries interest,. The amount is deemed as paid and invested with the Board and carries interest accordingly to Rule 11 as mentioned above - Decided in favour of assessee - ITA Nos. 79 to 81/Jab/2013 - - - Dated:- 6-7-2015 - Shri D.T. Garasia, Hon ble Judicial Member and Shri B.C. Meena, Hon ble Accountant Member Appellant by: Shri D.R. Lathoriya Respondent by: Shri K. Kumar ORDER Shri B.C. Meena, AM All these three appeals filed by the revenue emana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee had already been granted favour by the CIT(A) in various years. The issue had been heard at the ITAT but the order would be made available shortly and submitted a detail right up which was submitted to the CIT(A) as well as ITAT, in the detail right up which is not being repeated here for the sake of brevity, it was contended that in the case of the assessee the provident fund is governed by their own rules and contract of service and there is no specific date for payment but the initial arrangement was such that the payments were made regularly on Ad hoc basis and the amount remaining unpaid, if any, was treated as invested with MPEB and carried interest. Emphasizing on due date u/s 36(1)(5a) and section 2(24)(X) and definition of inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erly explained in A.Y. 1994-95. The similar addition was made to the income but was deleted by the ld. CIT(A). Decision (Ground No. 2 3 : On similar facts and issue, the CIT(A) had deleted the addition made on account of non-deposit of provident fund by the appellant which was upheld by the ITAT in ITA No. 69 and 70/Jab/2005 dated 22.09.2006. Respectfully following the same, the addition made on account of non-deposit of provident fund of ₹ 62,45,32,201/- (A.Yr. 2000-01), ₹ 71,16,29,835/- (A.Yr. 2001-02) and ₹ 89,02,05,926/- (A.Yr. 2002-03) are hereby deleted. These grounds of appeal are allowed. 3. The ld. DR submitted that such issues have been considered by various High Courts and has been decided in favour of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee s case which are reproduced hereunder :- 1. Constitution of the MPSEB and PF Trust MP Electricity Board is an undertaking constituted under the Act and is fully owned and aided by the Govt. of Madhya Pradesh. It is managed by the Board Members nominated by the Govt. of MP. MP Electricity Board has its own PF Rules and Regulation. There are Trustees nominated as per the procedure prescribed in the Regulation 4 for the purposes of managing the Provident Fund of the staff. This fund is known as Madhya Pradesh Electricity Board s Contributory General Provident Fund Regulations. This is recognised by the Govt. of MP and is exempted from the operation of the Employees Provident Fund Act and Schemes since 1964. 2. RULES O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r, or notification issued thereunder or under any standing order, award, contract of service or otherwise. 5. NO SPECIFIC DATE FOR DEPOSIT OF THE P.F. BY BOARD Thus in the case of the MPSEB the PF is governed by its own Rules. There is no specific date of payment but the internal arrange is such the payments are made regularly on adhoc basis and the amount remaining unpaid, if any, is treated as invested with the MPSEB and carries interest,. The amount is deemed as paid and invested with the Board and carries interest accordingly to Rule 11 as mentioned above. 5. After hearing both the sides, we are of the view that the Hon'ble ITAT has already decided this issue in A.Y. 1994-95 in favour of the assessee and the appeal of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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