2020 (12) TMI 6

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....to as Ld. CIT(A)] erred in upholding the action of Ld. Assistant Commissioner of Income Tax [hereinafter referred to as Ld. AO] in making disallowance u/s. 43B(f) of the Income Tax Act, 1961 ('Act') amounting to Rs. 5,17,130/-. 2. That in the facts and circumstances of the case, the Ld. CIT(A) failed to appreciate that the said claim of the appellant was based on the writ petition challenging the introduction of clause (f) to section 43B which had been disposed in favour by the Division Bench of the Hon'ble Calcutta High Court in the case of Exide Industries Ltd. -vs.- Union of India [2007] 292 ITR 470 (Cal.). The said case has been subsequently stayed by the Hon'ble Supreme Court till further orders. In the event t....

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....the assessee is that in the light of the decision rendered by the Hon'ble Supreme Court in the case of CIT Vs. Exide Industries Ltd., which is reported in 116 taxman.com 378 (SC), wherein the Hon'ble Court disagreed with the decision of Hon'ble Calcutta High Court and has upheld the Constitutional validity of section 43B(f) of the Act. Therefore, according to the Learned Authorised Representative ( in short, the Ld. AR) the matter may be remitted back to the AO for deciding the issue ('Lis') in the light of the said decision of the Hon'ble Supreme Court in the Exide case (supra). 6. The Learned Departmental Representative ( in short, the Ld. DR) did not object to the suggestion of remanding the issue back to AO for deciding the matter as....

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....) noted that the donation receipt was issued on 26-11-2014 vide a cheque issued on 15-07-2013, which according to the Ld. CIT(A) was clearly out of limitation time. According to the Ld. CIT(A) since no bank statement was furnished to prove that cheque was encashed before 31-03-2014/31-03-2013 or within the period allowed by Law for encashment of the cheque, he dismissed this ground of appeal of assessee. Aggrieved, the assessee is before us. 10. Having heard both the parties. The only plea of assessee is that the AO has disallowed the exemption under section 80G of the Act on the ground that the assessee did not produce any supporting documents. Further the Ld. CIT(A) has confirmed the disallowance since the cheque was dated 15-07-201....