2025 (6) TMI 1942

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....0 of the Income-tax Act, 1961 [hereinafter referred to as "the Act" for short], for Assessment Year (AY) 2020-21. 2. The ground of appeal raised by the Assessee is as follows:- "In law and in the facts and circumstances of the case of appellant, the Ld. CIT(A) has erred in not deleting addition of Rs. 1,99,992/- on account of payment of Employees' Contribution to Superannuation fund u/s 36(i) (va) of the Act." 3. The brief facts of the case are that the assessee filed its return of income for the year under consideration on 27.01.2021 declaring total income of Rs. 30,59,51,250/-. The return was subsequently processed u/s 143(1) of the Act at an income of Rs. 30,72,55,070/- by making an addition of Rs. 13,03,820/-, by invo....

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.... not allowable for deduction as per the provisions relating to employees' contributions to specified funds. During appellate proceedings the appellant argued that the contribution to the Employees' Superannuation Fund was voluntary and not mandatory. It further contended that the payment was made well before the due date of filing the return of income under Section 139(1). The appellant relied on judicial precedents where it was held that payments made before the due date of filing the return were allowable, regardless of the specific due date under the respective scheme. The appellant also contended that there is no due date prescribed as to when the payment is required to be made to the superannuation fund. Hence, the imp....

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....e have heard the rival contentions and perused the material available on record. The primary issue in dispute is whether the contribution made by the assessee to the Employees' Superannuation Fund qualifies for deduction, having been paid after the due date prescribed under the scheme but before the due date under Section 139(1). We find from the record that the assessee had made the payment of Rs. 1,99,992/- towards employees' contribution to the Superannuation Fund before the due date for filing the return of income u/s 139(1). The fact of such payment and its timing is not disputed. The Ld. CIT(A) has rightly noted that the critical requirement for allowing the deduction is whether the Superannuation Fund is an "approved" fund under t....