TaxTMI 
TaxTMI 
2021 (6) TMI 883
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....e case are assessee filed its return of income for assessment year 2014-15 on 27.11.2014 declaring total income at' NIL' as per normal provision of the Income Tax Act 1961 (in short Act) and Rs. 17,03,70,081/- under section 115 JB of the Act. The case was selected for scrutiny under section 143 (3) of the Act and subsequently statutory notices under section 143 (2) and 142 (1) of the Act were issued and served on the assessee. In response the AR of the assessee attended and filed the relevant information is called for. The Revenue is in appeal with the following grounds : 1. On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in deleting the additional depreciation of Rs. 3,18,05,283/- u/s 32(1)(iia) of the IT.....
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.... the respective assessing officers in assessment year 2012-13 and 2013-14 had disallowed the claim of additional depreciation and in those respective assessment years the issue was contested before coordinate benches of this tribunal and it was held in favour of the assessee (in ITA No 6360/mum/2017 dated 31.01.2019 and ITA No 7268/mum/2017 dated 22.03.2019). Since this issue is already settled in favour of the assessee, we do not see any reason to interfere with the findings of Ld. CIT(A). Accordingly ground No. 1 raised by the revenue is dismissed. 4. With regard to grow No. 2,3 and 4, we noticed that assessee has deposited the ESIC and labour welfare fund contribution of the employees beyond the date of due date of the respective Acts. ....
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....ly lays down that the taxpayer can take benefit of deduction of such contributions, if the same are paid before furnishing the return of income. In the case of the assessee, it is observed from Tax audit report submitted by the assessee that, it has received Rs. 18,116/- from its employees towards Employee Contribution fund within dates but deposited to the fund houses before filing ITR. In the light of the aforesaid judicial pronouncements, it is considered that Sec 43B of the Act, 1961 applies to both employee and employer contributions and if the contributions are paid to the fund houses before filing ITR, no disallowance u/s 36(1)(va) is warranted. Thus it is established that when the employee deposits both of its contribution and emplo....