2023 (5) TMI 1049

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....a, A.R. For the Revenue : Shri Vijay Kumar, Addl. CIT ORDER PER RAJESH KUMAR, ACCOUNTANT MEMBER:- The assessee is in appeal before the Tribunal against the order of ld. Commissioner of Income Tax(Appeals), National Faceless Appeal Centre (NFAC), Delhi dated 06.08.2021 passed under section 250 of the Income Tax Act, 1961 for A.Y. 2019-20. 2. At the outset, we notice that the assessee....

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....to as the ld. CIT(A)) erred in confirming the entire disallowance of Rs.2,51,10,171/- being the deposit of 'employees share towards Provident Fund contribution after the due date within the meaning of Explanation 1 of section 36(1)(va) of the Income Tax Act, 1961 (the Act) to the business loss as per return without considering application of rule of 8(1) of the Income Tax Rules, 1962 (the Rules) m....

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....lenged the said order of ld. CIT(Appeals) before the Tribunal. In the meantime, the Hon'ble Apex Court has decided the issue against the assessee in the case of Checkmate Services Pvt. Limited -vs.- CIT (2022) 143 taxman.com 178 (SC). Now the assessee has raised an additional ground before the Tribunal praying that despite the disallowance of Rs.2,51,10,171/-, the income has to be determined in ac....

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....he manner of computing the income from cultivation and manufacturing of tea. Sub-Rule (1) provides that "where the income derived from the sale of tea grown and manufactured by the seller in India shall be computed as if it were income derived from business, and forty per cent of such income shall be deemed to be income liable to tax". Having considered the above Rule, we find merit in the content....