TaxTMI 
TaxTMI 
TaxTMI 
2022 (4) TMI 223
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....authorities below in so far as they are against the appellant are opposed to law equity, weight of evidence, probabilities, facts and circumstances of the case. 2. The learned Commissioner of Income tax [Appeals]/National Faceless Appeal Centre [NFAC for short] is not justified in upholding the determination of total loss of appellant in the Intimation u/s. 143[1] of the Act, at Rs. 63,89,502/- as against the returned loss of Rs. 80,99,676/-, on account of the disallowance of Rs. 17,10,174/- made u/s. 36[1][va] of the Act. based upon the details in the Tax Audit Report of the Chartered Accountant in Form 3CD, under the facts and in the circumstances of the appellant's case. 3. The learned CIT[A]/NFAC ought to have appreciated that t....
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....ore the aforesaid clarificatory amendments made under the facts and in the circumstances of the appellant's case. 5. Without prejudice to the right to seek waiver with the Hon'ble CCIT/DG. the appellant denies itself liable to be charged to interest u/s. 234B and 234C of the Act. as computed in the intimation u/s. 143[1] of the Act, under the facts and in the circumstances of the appellant's case. 6. For the above and other grounds that may be urged at the time of hearing of the appeal, your appellant humbly prays that the appeal may be allowed and Justice rendered and the appellant may be awarded costs in prosecuting the appeal and also order for the refund of the institution fees as part of the costs." 2. The brief facts ....
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....n the amendment brought about to section 36(1)(va) and 43B of the I.T. Act. 4. Aggrieved, the assessee has filed this appeal before the Tribunal. 4.1. The Ld. AR submitted that an identical issue is decided in favour of the assessee by the coordinate Bench of this Tribunal in following cases: * M/s. The Continental Restaurant & Cafe Co. v. ITO in ITA No. 388/Bang/2021 (order dated 11.10.2021) * M/s. Nirmal Enviro Solutions Pvt. Ltd. vs. DCIT in ITA No. 315/Bang/2021 (order dated 12.10.2021) * Shri Gopalkrishna Aswini Kumar vs. ACIT in ITA No. 359/Bang/2021 (order dated 13.10.2021) 5. The learned Departmental Representative supported the orders of the Income Tax Authorities. 6. We have heard rival submissions and perused the materi....
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....6(1)(va) of the IT Act?" 7.1 In deciding the above substantial question of law, the Hon'ble High Court rendered the following findings:- "20. Paragraph-38 of the PF Scheme provides for Mode of payment of contributions. As provided in sub para (1), the employer shall, before paying the member, his wages, deduct his contribution from his wages and deposit the same together with his own contribution and other charges as stipulated therein with the provident fund or the fund under the ESI Act within fifteen days of the closure of every month pay. It is clear that the word "contribution" used in Clause (b) of Section 43B of the IT Act means the contribution of the employer and the employee. That being so, if the contribution is made on o....
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....iew of the judgment of the Hon'ble jurisdictional High Court in the case of Essae Teraoka (P.) Ltd. v. DCIT (supra) the assessee would have been entitled to deduction of employees' contribution of PF and ESI if the payment was made prior to due date of filing of the return of income u/s. 139(1) of the I.T. Act. Therefore, the amendment brought about by the Finance Act, 2021 to section 36(1)(va) and 43B of the I.T. Act, alters the position of law adversely to the assessee. Therefore, such amendment cannot be held to be retrospective in nature. Even otherwise, the amendment has been mentioned to be effective from 01.04.2021 and will apply for and from assessment year 2021-2022 onwards. The following orders of the Tribunal had categori....