IT: Section 43B applicable to both employees' and employer's contributions
■■■
[2015] 53 taxmann.com 141 (Bombay)
HIGH COURT OF BOMBAY
Commissioner of Income-tax, (Central), Pune
v.
Ghatge Patil Transports Ltd.*
S.C. DHARMADHIKARI AND A.K. MENON, JJ.
IT APPEAL NOS. 1002 & 1034 OF 2012
OCTOBER 14, 2014
Section 43B of the Income-tax Act, 1961 - Business disallowance - Certain deductions to be allowed only on actual payment (Employees' contribution) - Whether both employees' and employer's contributions are covered under amendment to section 43B and judgment of Supreme Court in CIT v. Alom Extrusions Ltd. [2009] 319 ITR 306/185 Taxman 416 - Held, yes - Whether thus Tribunal was right in holding that payments thereof are subject to benefits of section 43B and hence, deduction was allowable - Held, yes [Para 16][In favour of assessee]
■■■
[2015] 53 taxmann.com 141 (Bombay)
HIGH COURT OF BOMBAY
Commissioner of Income-tax, (Central), Pune
v.
Ghatge Patil Transports Ltd.*
S.C. DHARMADHIKARI AND A.K. MENON, JJ.
IT APPEAL NOS. 1002 & 1034 OF 2012
OCTOBER 14, 2014
Section 43B of the Income-tax Act, 1961 - Business disallowance - Certain deductions to be allowed only on actual payment (Employees' contribution) - Whether both employees' and employer's contributions are covered under amendment to section 43B and judgment of Supreme Court in CIT v. Alom Extrusions Ltd. [2009] 319 ITR 306/185 Taxman 416 - Held, yes - Whether thus Tribunal was right in holding that payments thereof are subject to benefits of section 43B and hence, deduction was allowable - Held, yes [Para 16][In favour of assessee]
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