TMI Blog2022 (2) TMI 637X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee had deposited the employees contribution before filing of Return of Income. Appeal of the assessee. - I.T.A. No. 179/Kol/2021 - - - Dated:- 2-2-2022 - Shri Sanjay Garg, Judicial Member Shri Miraj D. Shah, AR, appeared on behalf of the appellant Shri Gautam Mondal, Addl. CIT-DR, appeared on behalf of the Respondent ORDER The present appeal has been preferred by the assessee against the order dated 15.04.2021 of the National Faceless Appeal Centre [hereinafter referred to as 'CIT(A)'] passed u/s. 250 of the Income Tax Act (hereinafter referred to as the 'Act'). The assessee in this appeal has taken the following grounds of appeal : 1. That the order u/s. 250 passed by the CIT (Appeals), NFAC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee as the assessment year involved is AY 2017-18 and the Explanation-5 inserted by Finance Act, 2021 to section 43B w.e.f. 01.04.2021 is not applicable to the assessment year under consideration. The relevant portion of the Coordinate Bench decision of the Tribunal in the case of Harendra Nath Biswas vs. DCIT (supra) for the sake of reference is reproduced as under: 2. The sole grounds of appeal raised by the assessee is against the Ld. CIT(A) in confirming the action of AO who disallowed/added back a sum of ₹ 1,10,62,263/- on account of delayed deposit of employees contribution to PF and ESI u/s. 36(1)(va) read with Section 2(24)(x) of the Income Tax Act, 1961 (hereinafter referred to as the Act) despite the assessee contrib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imple reason that the Explanation 5 was inserted by the Finance Act, 2021, with effect from 01.04.2021 and relevant assessment year before us is AY 2019-20. Therefore the law laid down by the Jurisdictional Hon'ble High Court will apply and since this Explanation-5 has not been made retrospectively. So we are inclined to follow the same and we reproduce the order of Hon'ble Calcutta High Court in the case of Vijayshree Ltd. supra wherein the Hon'ble Calcutta High Court has taken note of the Hon'ble Supreme Court decision in CIT vs. Alom Extrusion Ltd. reported in 390 ITR 306. The Hon'ble Calcutta High Court's decision in Vijayshree Ltd. supra is reproduced as under: This appeal is at the instance of the Revenue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions of Section 43(B) of the Act. We, therefore, find that no substantial question of law is involved in this appeal and consequently, we dismiss this appeal. Urgent xerox certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities. In the light of the aforesaid discussion we do not accept the Ld. CIT(A)'s stand denying the claim of assessee since assessee delayed the employees contribution of EPF ESI fund and as per the binding decision of the Hon'ble High Court in Vijayshree Ltd. (supra) u/s. 36(1)(va) of the Act since assessee had deposited the employees contribution before filing of Return of Income. Therefore, the assessee succeeds and we allow ..... X X X X Extracts X X X X X X X X Extracts X X X X
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