2016 (8) TMI 100

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....her, in the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in confirming the action of Respondent in disallowing employer's and employee's contributions of PF and ESI paid within the due date of filing return of income under Section 43B and Section 2(24)(x) read with Section 36 (1) (va) of the Act? [B] Whether, the omission of second proviso to Section 43B by Finance Act, 2003 being curative in nature has retrospective effect or not?" 2. In Tax Appeal No.310/2008, the following substantial questions of law have been raised: "I. Whether, in the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in confirming the disallowance of the payment of Provi....

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....d learned counsel for both the sides and perused the documents on record. 5. Learned counsel for the assessee submitted that the first issue is already settled by the judgment of this Court rendered in the case of CIT, Valsad v. Amoli Organics (P) Ltd., [2014] 41 taxmann.com 149 (Guj). In that case, the assessee had deposited substantial amount of employee's contribution with the provident fund authority within the grace period permissible under the relevant Provident Fund Act. According to the assessee, in view of the second amendment in section 43B, which is applicable from 01.04.2004, as the employer's contribution was deposited with the provident fund authority on behalf of the assessee before the due date of filing of return, they w....