2018 (1) TMI 145

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....T. S. Sivagnanam, J. This appeal is directed against the order passed by the Income Tax Appellate Tribunal dated 13.4.2017 in ITA.No.3006/Mds/2016 for the assessment year 2010-11, raising the following substantial questions of law : "i. Whether the Appellate Tribunal was right in directing the Assessing Officer to exclude the investments made from own funds while computing the disallow....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cts and circumstances of the case and in law, the Income Tax Appellate Tribunal was right and justified in deleting the addition when the sums collected from employees towards PF contribution is income under Section 2(24)(x) of the Income Tax Act and the same can be allowed as deduction under Section 36(1)(va) of the Income Tax Act only if it is paid before the due date under the PF Act " 2. On....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he decision of the Supreme Court in the case of CIT Vs. Alom Extrusions Ltd. reported in 319 ITR 306, whereby the Supreme Court held that omission of Second Proviso to Section 43B and Amendment to First Proviso by Finance Act, 2003 are curative in nature and are effective retrospectively with effect from 01.4.1988 and the date of insertion of First Proviso. The Delhi High Court in the case of CIT ....