TaxTMI 
TaxTMI 
2015 (9) TMI 1040
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.... learned CIT(A) erred in holding that the appellant company is not entitled to deduction of Rs. 3,34,815/- being Employees' Contribution to Provident Fund, on the ground that the same was deposited by the appellant company beyond the time limit prescribed under the Provident Fund Act. 3. At the time of hearing before us, the ld. Counsel for the assessee was fair enough to admit that this issue is covered against the assessee by the decision of Hon'ble Jurisdictional High Court in the case of CIT Vs. Gujarat State Road Transport Corporation, reported in (2014) 366 ITR 170 (Guj). Respectfully following the same, we reject Ground No.1 of the assessee's appeal. 4. Ground No.2 of the assessee's appeal reads as under:- 2.....
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.... substance, there was no liability of Cess on the royalty. In the above circumstances, in our opinion, the disallowance made by the Assessing Officer and sustained by the CIT(A) is fully justified. The ld. Counsel for the assessee has submitted that the assessee has reversed the provision in the subsequent year and offered the same amount i.e. Rs. 5,51,327/-. Therefore, if the addition is sustained in this year, then suitable direction may be given in the other year wherein this provision is reversed. However, the ld. Counsel for the assessee has not filed any supporting document in support of his contention that the provision is reversed in the subsequent year and the income is offered. He has not even mentioned the assessment year in whic....
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....section 199 is to allow credit for tax deducted at source to the payee. The modus operandi for the discharge of such function is in-built in the section itself. It is done by finding out the year in which the income on which tax was deducted, is assessable to tax. It is quite natural that the credit for tax deducted at source from the amount of income should be allowed simultaneous with the event of chargeability of such income to tax. So once the year of chargeability of the amount received in the nature of income is determined, the credit for tax deducted has to be allowed to the payee in such year. This is the only mandate of section 199. This section basically deals with the question of determination of the year in which the credit for ....
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....ages but income is chargeable to tax only once and that too not in the hands of the assessee. The Revenue has received the tax due on such rent by way of deduction of tax at source made by M/s Arvind Brands Limited, who eventually paid the net amount of rent to the landlords after due deduction of tax at source. The AO has unequivocally held that the amount is not chargeable to tax in the hands of the assessee. The finding of the AO is not that such receipt is liable to tax in the hands of the assessee in a later or an earlier year. Rather it is that the amount received by the assessee is not at all chargeable to tax either in the current year or in an earlier or a later year. If the AO had held that the amount received by the assessee as c....