2014 (8) TMI 731

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....ether on the facts and circumstances of the case and in law, the ITAT was justified in upholding the deletion of disallowance of Rs. 19,39,017/u/ s 40(a)(ia) of the Income-tax Act, 1961 by the CIT(A) holding that if the TDS payment is made before the due date of filing of the return of income, then the same is allowable as an expenditure, without considering the fact that the relevant portion of the Memorandum explaining the provisions of Finance Bill, 2010 clearly states that the amendment to Section 40(a)(ia) allowing deduction for the payment, on which TDS has been made and paid into Govt. Account before the due date for furnishing the return of income is to take effect retrospectively from 01.04.2010 and will, accordingly, apply in rela....

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....d in law, the ITAT was justified in upholding the deletion by the CIT(A) of disallowance of employees' contribution towards P.F. and ESIC of Rs. 3,14,12,313/and provision for employees' contribution towards P.F. & ESIC of Rs. 43,88,453/, relying on the decision of the Hon'ble Supreme Court in the case of Alom Extrusions Ltd. reported in 319 ITR 306 (SC), without appreciating the fact that in the case of Alom Extrusions Ltd. the controversy before the Hon'ble Supreme Court was with respect to employer's contribution as per Section 43B(b) of the Act and not with respect to employees' contribution under Section 36(1)(va) of the Act and, therefore, the Hon'ble Supreme Court had no occasion to consider deduction u/s 36(1)(va) of the Act with res....