2019 (4) TMI 1131

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....for Mr.S.Balaji. For the Respondent : Mr.T.R.Senthil Kumar, Senior Standing Counsel, assisted by Mrs.K.G.Usha Rani, Junior Standing Counsel. JUDGMENT DR.VINEET KOTHARI, J. 1. Both the learned counsel fairly submit that the controversy about the interpretation of the Proviso to Section 43B of the Income Tax Act,1961, which was omitted by the Finance Act,2003, with effect from 01.04.2004....

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....oner (Appeals) is to be set aside. Admittedly, these payments were not made within the due dates under the relevant statutes. This fact is not denied by the learned Counsel for the assessee. However, the learned Counsel for the assessee attempted to persuade us to accept the amendment which is clarificatory, according to him. We are unable to accept the contention of the assessee's co....

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...., as stated above, Section 43-B [main section], which stood inserted by Finance Act, 1983, with effect from 1st April, 1984, expressly commences with a non-obstante clause, the underlying object being to disallow deductions claimed merely by making a Book entry based on Merchantile System of Accounting. At the same time, Section 43-B [main section] made it mandatory for the Department to grant ded....

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....son appears to be that the employer(s) should not sit on the collected contributions and deprive the workmen of the rightful benefits under Social Welfare legislations by delaying payment of contributions to the welfare funds. However, as stated above, the second proviso resulted in implementation problems, which have been mentioned hereinabove, and which resulted in the enactment of Finance Act, ....