TaxTMI 
TaxTMI 
2022 (5) TMI 444
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.... facts of the case are that the assessee is an individual and proprietor of M/s. Lopa Enterprise, which is engaged in providing manpower supply services to industrial customers. For the Assessment Year 2018-19, the assessee filed his return of income on 04.10.2018 declaring the income of Rs. 37,22,340/-. The Centralized Processing Centre, Bangalore (hereinafter referred to as the "CPC") passed the intimation under Section 143(1) of the Income-tax Act, 1961 (hereinafter referred to as the "Act") vide intimation dated 17.05.2019 by making disallowance on account of the delayed payment in relation to sum received from employees of Rs. 23,97,818/as contribution to Provided Fund and other statutory fund under Section 36(1)(va) of the Act and dem....
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....rage corporation limited endorsed by Hon'ble Supreme Court on the identical issue. E. Ld. CIT Appeals has erred in taking altogether new stand by placing reliance on explanation 2 inserted to 36(1)(va) with effect from 1/4/2021 and by treating the amendment as a retrospective by applying the same for the current year. F. Ld. CIT Appeals failed to appreciate that employee's contribution post remittance to the PF authorities ceases to be an income in the hands of the assessee. G. Appellant therefore pleads that (1) Excess disallowance of Rs. 14,16,000/- be deleted as it is attributed due to arithmetic error. (2) Disallowance of Rs. 5,57,483/- made within the grace period be deleted as it is....
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..... It can be seen that intimation under section 143(1) of the Act was issued by the CPC on 17.05.2019 and the assessee has not made any attempt to file rectification petition against the intimation issued by the CPC u/s. 143(1) of the Act. The assessee for the first time before this Tribunal has filed a combined challan of account for employees' PF as well as the revised Tax Audit Report under Section 44AB of the Act. The revised Tax Audit Report was uploaded on 28.03.2019 which is much earlier than the intimation issued by the CPC dated 17.05.2019 under Section 143(1) of the Act. The learned DR appearing for the Department stated that this issue has not been properly projected before the NFAC and hence the same may be remitted back to t....
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....mann.com 455 (P&H) v) CIT vs. Magus Customers Dialog (P.) Ltd. [2015] 57 taxmann.com 94 vi) Essae Teraoka (P.) Ltd. vs. DCIT, 366 ITR 408 (Kar) vii) Spectrum Consultants India (P.) Ltd. v. CIT [2013] 215 taxman 597(Kar) viii) CIT vs. AIMIL Ltd. [2010] 188 Taxman 265/321 ITR 508 (Del) ix) PCIT vs. Rajasthan State Beverages Corpn Ltd. [2017] 250 taxman 32(Raj) x) Rakesh Janghu vs. CPC, [2022] 136 taxmann.com 154 (Delhi Trib) xi) B.R.S. Precision Manufacturing (P) Ltd. Vs. DCIT, [2022] 135 taxmann.com 248 (Bangalore Trib.) 8. The assessee also tried to distinguish the jurisdictional High Court judgment in the case of CIT Vs. Gujarat State Road Transport Corporation [2014] 41 tax....
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....lanation to section 36(1)(va) of the Act i.e. date by which the concerned assessee was required as an employer to credit employees' contribution to the employees' account in the Provident Fund under the Provident Fund Act and/or in the ESI Fund under the ESI Act." 10. Further, the learned DR has also placed on record a Circular No. WSU/9(1)2013/Settlement dated 09.01.2016 of Employees' Provident Fund Organization informing the withdrawal of concession of grace period of 5 days to remit the employers contribution to PF account with effect from February 2016. The relevant paragraphs of the said circular are reproduced herein below for the reference:- "2. The grace period of five days have been allowed for the employers....