TMI Blog2021 (10) TMI 1294X X X X Extracts X X X X X X X X Extracts X X X X ..... Court in the case of AIMIL Ltd. [ 2009 (12) TMI 38 - DELHI HIGH COURT] As far as reliance by Learned DR on the amendment brought out by Finance Act 2021 is concerned, notes on clauses to the Finance Bill 2021 clearly states that the amendment will take effect from 1st April 2021 and will apply in relation to the assessment year 2021-22 and subsequent assessment year. In such a situation, we are of the view that the amendment does not apply to the assessment year under consideration. As far as the reliance of Revenue on the decision of Vedvan Consultants Pvt. Ltd.[ 2021 (8) TMI 1219 - ITAT DELHI] as find that the various division Benches of the Delhi other Tribunal have held the delayed deposits of PF/ESIC Contributions to be allowa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned at ₹ 18,13,404/- as against the returned income of ₹ 11,18,941/- inter alia by making disallowance of ₹ 6,94,463/- on account of delayed deposit of employees contributions towards PF/ESIC. Aggrieved by the order of AO, assessee carried the matter before the CIT(A) who in the order dated 25.05.2021 in Appeal No. CIT(A), Gurgaon-1/12046/2019-20 upheld the order of AO. Aggrieved by the order of CIT(A), assessee is now in appeal before me and has raised the following grounds : 1. The Ld. ADIT has erred in law and on facts in passing the impugned intimation order u/s 143(1). 2. The Ld. ADIT has erred in law and on facts in making an adjustment of ₹ 6,94,463/- under section 143( 1 )(a)(iv) to the total income a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f PF/ESIC Contributions but all the contributions received by the assessee have been deposited with the appropriate authorities before the filing of return of income by the assessee. He therefore submitted that since the amounts have been deposited before filing the return of income, no disallowance is called for and for aforesaid proposition, he relied on the decision in the case of Azamgarh Steel Power vs CPC in ITA No.1626/Del/2020 dated 31.05.2021 and CIT vs. AIMIL Ltd. [2010] 188 Taxman 265 (Delhi) and various other decisions. 6. Learned DR on the other hand supported the order of lower authorities and also placed reliance on the decision of Delhi Tribunal in the case of Vedvan Consultants Pvt. Ltd. vs DCIT in ITA No.1312/Del/2020 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sequent assessment year. In such a situation, I am of the view that the amendment does not apply to the assessment year under consideration. As far as the reliance of Revenue on the decision of Vedvan Consultants Pvt. Ltd. (supra) is concerned, I find that the various division Benches of the Delhi other Tribunal have held the delayed deposits of PF/ESIC Contributions to be allowable if the same are deposited with the appropriate authorities before filing of return of income by the assessee. Further, it is settled law that when two judgments are available giving different views, then the judgment which is in favour of the assessee shall apply as held in case of Vegetable Products Ltd. 82 ITR 192 by the Hon ble Supreme Court. I therefore fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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