2012 (1) TMI 400

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.... ORDER Per Mahavir Singh, JM The appeal by revenue is arising out of the order of CIT(A)-XII, Kolkata in Appeal No. 824/ XII/Cir-10/09-10 vide dated 15.06.2010. Assessment was framed by Addl.CIT, Range-10, Kolkata for Assessment Year 2007-08 u/s. 143(3) Income Tax Act, 1961(hereinafter referred to as "the Act") vide his order dated 29.12.2009. 2. The sole issue in this appeal of revenue i....

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....f the Act. In appeal, CIT(A) held that Assessing Officer was not justified in disallowing Rs. 17,75,074/- being delayed payment of Employees' contribution to Provident Fund and ESI as the same was paid prior to filing of return. While allowing assessee's ground of appeal, CIT(A) relied on the decision of Hon'ble Supreme Court in the case of CIT Vs. Vinay Cement Ltd. 213 CTR 268 and CIT Vs. Alom Ex....

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....nt and after going through the decision of the Supreme Court in the case of Commissioner of Income Tax vs. Alom Extrusion Ltd., we find that the Supreme Court in the aforesaid case has held that the amendment to the second proviso to the Sec. 43(B) of the Income Tax Act, as introduced by Finance Act, 2003, was curative in nature and is required to be applied retrospectively with effect from 1st Ap....