Taxpublishers.in - InterestingDecision/Flash_16156.htm - Tax Publishers Your Tax Solution Hub

Share via Whatsapp 187 Views


The Tax Publishers Asstt. CIT v. GVK Technical & Consultancy (P) Ltd. [ITA No. 1248/Hyd/2015, dt. 24-3-2016] : 2016 TaxPub(DT) 2285 (Hyd-Trib) Employee contribution of PF whether covered under section 43B(b) thus allowable if paid before filing return of income *Facts:* Assessee paid employees contribution belated beyond the time under PF act and claimed deductibility. Assessing officer gave it a reading that employees contribution fell under section 36(1)(va) and not under section 43B which covered only employers contribution. On appeal Commissioner (Appeals) negated the views of the assessing officer, on further appeal: Held in favour of the assessee that employee contribution also fell in the scope of section 43B(b) as held thus by apex court in Alom Extrusions 319 ITR 306. Note: CBDT Circular No. 22/2015 dtd. 17-12-2015 also confirms the said decision.

The Tax Publishers

Asstt. CIT v. GVK Technical & Consultancy (P) Ltd. [ITA No. 1248/Hyd/2015, dt. 24-3-2016] : 2016 TaxPub(DT) 2285 (Hyd-Trib)

Employee contribution of PF whether covered under section 43B(b) thus allowable if paid before filing return of income

Facts:

Assessee paid employees contribution belated beyond the time under PF act and claimed deductibility. Assessing officer gave it a reading that employees contribution fell under section 36(1)(va) and not under section 43B which covered only employers contribution. On appeal Commissioner (Appeals) negated the views of the assessing officer, on further appeal:

Held in favour of the assessee that employee contribution also fell in the scope of section 43B(b) as held thus by apex court in Alom Extrusions 319 ITR 306.

Note: CBDT Circular No. 22/2015 dtd. 17-12-2015 also confirms the said decision.