2024 (5) TMI 1367

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....e mind the disclosures made, the delay of 205 days in filing the appeal is condoned. The application shall stand disposed of. ITA 302/2024& CM APPL. 31316/2024 (Stay) 1. The assessee has instituted the present appeal impugning the order of the Income Tax Appellate Tribunal ['ITAT'] dated 21 June 2023 and has posited the following questions for our consideration:- "(A) Whether the Ld. ITAT is justified in law and facts and circumstances of the case in confirming order of CIT (Appeal) and Assessing Officer without appreciating the facts of the case? (B) Whether the Ld. ITAT is justified in law and facts and circumstances of the case in making addition of Rs. 51,75,094/- on account of making payment of PF & ESI befor....

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....sallowance even after deposit into relevant fund means collecting tax from the employer by way of disallowance/ addition when the same amount is also reported as income by the employee because the amount of contribution received by the employer and deposited into relevant fund is income of the employee, therefore the disallowance amounts to double taxation? (K) Whether the Ld. ITAT has failed to apply its judicial mind by not considering any of the contentions raised by the Appellant in the Appeal and has not applied its mind? (L) Whether the Ld. ITAT failed to consider that the amount of contribution received by the employer (the appellant assessee in this case) from salary paid to the employees is not a deemed income bec....

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....t amounts received by it or deducted by it [Section 36(1)(v-a)] is, thus crucial. The former forms part of the employers' income, and the latter retains its character as an income (albeit deemed), by virtue of Section 2(24)(x) - unless the conditions spelt by Explanation to Section 36(1)(v-a) are satisfied i.e. depositing such amount received or deducted from the employee on or before the due date. In other words, there is a marked distinction between the nature and character of the two amounts - the employer's liability is to be paid out of its income whereas the second is deemed an income, by definition, since it is the deduction from the employees' income and held in trust by the employer. This marked distinction has to be bo....