2011 (9) TMI 563

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....bhit Saharia, Advocate for the respondent.   JUDGMENT   BARIN GHOSH, C.J. (ORAL)   Assessee claimed deduction for making contributions to Provident Fund and Employees' Provident Fund for the financial year 2001-02. In the assessment order, it has been recorded by the Assessing Officer that in respect of such payments, as requested by him, a table showing payments was furnis....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssee was entitled to deduction for such contributions. The said finding has been affirmed by the Tribunal, when the Tribunal, in addition to the said decision, referred to the judgment of the Hon'ble Delhi High Court in the case of CIT Vs. P.M. Electronics Ltd., reported in 2009 (313) ITR, 0161, DEL, which was rendered on the basis of the judgment of the Hon'ble Supreme Court, rendered in the case....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ction in relation to employees' contributions. If the employees' contributions are not covered by Section 43B, then the same may, at the best, be treated as an other income, though, according to us, the same would tantamount to entrustment of such funds with the employer in trust. The fact remains, as found by the Assessing Officer, the same did not remain in the hands of the assessee during the r....