2005 (3) TMI 701

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....s income of the appellant-company. (ii)That the learned CIT(A) ought to have appreciated the fact that the appellant had submitted that in respect of the sum for which the appellant-company had incurred liability in the previous year and where such payments were made within due date including the grace period provided under the relevant statute and accordingly the disallowance under section 43B was unwarranted. (iii)That the learned CIT(A) ought to have appreciated that section 43B is not applicable and the same can be invoked only when there is an outstanding liability at the end of the year in respect of certain payments mentioned, when there is no outstanding liability as all the payments have been made in the relevant year itself, the....

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....sion, we are fortified by the decision of the Delhi Bench of the Tribunal in the case of Addl. CIT v. Vestas RRB India Ltd. [2005] 92 ITD 1. The Finance Act, 2003 has deleted the second proviso and amended the first proviso to section 43B with effect from assessment year 2004-05. The amendment has any effect of deleting the specified clauses as mentioned in the first proviso. It has effect of bringing existing clause (b ) at par in terms of allowability of expenses. As per amended provisions of section 43B, the payments made by the employer towards contribution to PF, ESI, gratuity, superannuation and other welfare funds are allowable if the same are paid before filing the return of income and necessary evidence of such payment is enclosed ....