2015 (8) TMI 1534

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.... made to employees' superannuation fund. 3. Shri G. Baskar, ld. Counsel for the assessee submitted that Tamilnadu Maritime Board was a part of Tamilnadu Port Department. After enactment of Tamilnadu Maritime Board Act, an option was given to the employees of the erstwhile Tamilnadu Port Department to work under Tamilnadu Maritime Board. Referring to the Government order dated 21.11.1996, the copy of which is available at page 1 of the paper book, the ld. Counsel submitted that by virtue of section 20(2) of the Tamilnadu Maritime Board Act, the employees of the Port Department would automatically become the employees of the Tamilnadu Maritime Board and hold the office under the Tamilnadu Maritime Board by the same tenure, remuneration and....

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....claimed as deduction while computing the total income. Since the fund was not approved by the CIT for the year under consideration, according to the ld. DR, it cannot be allowed. 5. We have considered the rival submissions on either side and also perused the material available on record. Admittedly, by virtue of operation of section 20 of Tamilnadu Maritime Board Act, the employees of the former Tamilnadu Port Department were allotted to Tamilnadu Maritime Board on the basis of the same service conditions, rights and privileges. Therefore, the assessee is liable to pay contribution to the superannuation fund of the respective employees. No doubt, the approval of the superannuation fund was granted by the CIT with effect from 18.5.2011. T....