TMI Blog2022 (4) TMI 487X X X X Extracts X X X X X X X X Extracts X X X X ..... n of the Hon ble High Court in Vijayshree Ltd [ 2011 (9) TMI 30 - CALCUTTA HIGH COURT] 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 the appeal of the assessee. - I.T.A. Nos. 69 & 70/Kol/2022 - - - Dated:- 31-3-2022 - Shri Sanjay Garg, Judicial Member And Shri Girish Agrawal, Accountant Member Shri Shri Anil Kochar, Advocate appeared on behalf of the Appellant Smt. Ranu Biswas, Addl. CIT-DR, appeared on behalf of the Respondent ORDER Per Bench: The present two appeals have been preferred by the assessee against the orders both dated 24.11.2021 of the National Faceless Appeal Centre [hereinafter re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he above grounds. 2. At the outset, the ld. Counsel for the assessee has submitted that there was a delay in depositing employee s as well as employer s contribution to the Employee s Provident Fund/ESI fund. However, the amount was deposited before the due date of the filing of the return. The ld. Counsel has submitted that this issue is squarely covered by the decision of the Hon ble Jurisdictional Calcutta High Court in the case of CIT, Kolkata vs. M/s Vijay Shree Limited 43 taxman.com 396(Cal) which has been further followed by the Coordinate Calcutta Bench of this Tribunal in the case of Harendra Nath Biswas vs. DCIT in ITA No.186/Kol/2021 by the order dated 16.07.2021. The ld. DR could not show any decision contrary to the case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on that no disallowance was warranted in respect of delayed deposit of employees contribution to EPF /ESI fund since the assessee has deposited the employees contribution in respect of both these Acts (EPF ESI Act) before filing the return of income and relied on the various judicial decision including that of the jurisdictional Hon ble High Court of Calcutta in the case of CIT vs. Vijayshree Ltd. in [2014] 43 taxman.com 396(Cal). However the Ld. CIT(A) did not accept the contentions of the assessee in this regard and by relying on the Explanation-5 below section 43B which was brought in by Finance Act, 2021 to deny the claim of assessee. Therefore, the assessee is before us by preferring this appeal. 4. We have heard both the parti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om Extrusion Ltd., reported in 2009 Vol.390 ITR 306, held that the deletion was justified. Being dissatisfied, the Revenue has come up with the present appeal. After hearing Mr. Sinha, learned advocate, appearing on behalf of the appellant and after going through the decision of the Supreme Court in the case of Commissioner of Income Tax vs. Alom Extrusion Ltd., we find that the Supreme Court in the aforesaid case has held that the amendment to the second proviso to the Sec 43(B) of the Income Tax Act, as introduced by Finance Act, 2003, was curative in nature and is required to be applied retrospectively with effect from 1st April, 1988. Such being the position, the deletion of the amount paid by the Employees Contributi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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