Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Section 43B requires specified deductions only in the year of actual payment; a contractual transfer of employee liabilities to a third party does not constitute payment for Section 43B purposes, so deductions for leave encashment and bonus claimed without actual payment were disallowed. The tribunal applied the principle that statutory obligations cannot be shifted by contract to secure a deduction and rejected reliance on inapposite authorities. Further, adjustments made during processing under the return (u/s 143(1)(a)) were held permissible where the disallowance was apparent and not a debatable question. The appellate order deleting the adjustment was set aside and the assessment adjustment upheld.
Section 43B requires specified deductions only in the year of actual payment; a contractual transfer of employee liabilities to a third party does not constitute payment for Section 43B purposes, so deductions for leave encashment and bonus claimed without actual payment were disallowed. The tribunal applied the principle that statutory obligations cannot be shifted by contract to secure a deduction and rejected reliance on inapposite authorities. Further, adjustments made during processing under the return (u/s 143(1)(a)) were held permissible where the disallowance was apparent and not a debatable question. The appellate order deleting the adjustment was set aside and the assessment adjustment upheld.
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