2025 (1) TMI 1348

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....essee in appeal has raised as many as six grounds of appeal. Ground no. 1 & 6 of appeal are general in nature, hence, require no adjudication. Ground no. 2 to 4 of appeal are in respect of single issue i.e. disallowance u/s. 43B of the Income Tax Act, 1961(hereinafter referred to as 'the Act') Rs. 3,55,01,693/- on account of GST payable. In Ground no. 5 of appeal the assessee has assailed disallowance of Rs. 5,68,496/- made in respect of late deposit of employees contribution towards Provident Fund. The ld. Counsel for the assessee made statement at the Bar that he has not pressing ground no. 5 of appeal. Thus, solitary issue for consideration before the Tribunal is disallowance made under the provisions of Section 43B of the Act. 3. Shri ....

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.... (I) P. Ltd., 2007 (9) TMI 238 (Delhi) decided on 10.09.2007; ii. CIT vs. Calibre Personnel Services P. Ltd., 2015 (2) TMI 587 (Bom.) decided on 02.02.2015; & iii. CIT vs. S & A Finman ltd., 2022 (12) TMI 691, ITAT Delhi decided on 14.12.2022. 3.1. The ld. Counsel for the assessee further submitted that no adjustment can be made u/s. 143(1) of the Act when issue is debatable. The disallowance made u/s. 43B of the Act on account of GST payable is not a prima facie adjustment; rather the same is a debatable issue since said amount was never routed through P&L account. One of the possible view is that since said amount was never routed through P&L account, therefore, how can same be added back in taxable income. To support his second cont....