Appeal allowed in part: s.36(1)(va) PF deposit delay excused; health cess excluded from s.115JB; s.80IA, s.32, s.80IC benefits granted

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ITAT allowed the appeal in part and directed the AO to delete the disallowance under s.36(1)(va) where one-day delay in PF deposit was caused by bank website failure, holding the delay not attributable to the assessee-appellant. The Tribunal deleted the addition of Health and Education Cess in computing book profit under s.115JB, finding no legislative mandate equating that cess with income-tax for s.115JB purposes. ITAT directed inclusion of the Rs.1.50/unit reliability charge in transfer price for s.80IA, held the appellant's solid waste management system eligible for s.80IA deduction (applying PSM and FAR 79.73%), granted depreciation on leasehold rights under s.32(1)(ii) including opening WDV, and directed allowance of s.80IA/80IC deductions and indexed cost benefit in book-profit computation.....