2024 (8) TMI 357

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....ed under section 143(1) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') relating to the Assessment Year 2019-20. 2. The brief facts of the case are that the assessee is a Company engaged in Port activities filed its Return of Income for the Asst. Year 2019-20 on 21.11.2019 declaring total income under normal provision of the Act at Rs. 20,46,62,000/- and book profit under section 115JB of the Act at Rs. 1,52,74,22,608/-. The return was taken for prima facie adjustment and a communication was sent to the assessee as to why not disallow Rs. 8,19,544/- being belated payment of Employees contribution to PF Fund. The assessee replied that it paid the employees contribution to National Pension Scheme before the due date of f....

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....9;s case, the Ld. CIT(A) has erred in treating employee's contribution to National Pension Scheme as Employee's contribution to Provident Fund and ESIC. The Ld. CIT(A) ought to have appreciated that no due date of payment is prescribed for payment of such employees' contribution to NPS. 1.2 In law and on the facts and in the circumstances of the Appellant's case, the Ld. CIT(A) has erred in not following decisions of CIT(A) rendered in other group cases and relied upon by appellant in appellate proceedings. 2. In law and on the facts and in the circumstances of the Appellant's case, the Ld. CIT(A) has grossly erred in confirming disallowance of Rs. Rs. 1,452 under section 36 of the Act, when no such dis....

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.... National Pension Scheme. The AO. CPC has made the disallowance u/s 36(1)(va) for Rs. 2,37,585/- based upon Schedule in Tax Audit report relating to Employees payment to PF/ESIC and other funds. The disallowance is made on the ground that such remittances are made beyond the date as prescribed in the respective. On perusal of the Tax Audit report, it is seen that the contribution of Rs. 2,37,585 is not related to Employees Contribution to PF/ESIC. Infect, the same is mentioned as Contribution to any other welfare fund in point no. 20(b) of the Tax Audit report. The appellant has claimed that the said payment is towards the National Pension Scheme. The Appellant has elaborately explained the modus operadi of the NPS Scheme. It is clear that ....