COMMISSIONER OF INCOME TAX V vs. P.M.ELECTRONICS LTD.

ITA - 475 / 2007HC Delhi03 November 20088 pages
For Petitioner: RASHMI CHOPRA
AI SummaryDismissed

What did the High Court hold?

The Tribunal's decision to allow deduction for employer/employee contributions to provident fund paid after the due date but before the return filing date is sustained. This is based on Supreme Court and High Court precedents concerning the retrospective nature of amendments to Section 43B.

What were the facts?

The assessee made employer/employee contributions to the provident fund after the due date but before the due date for filing the return of income. The Assessing Officer disallowed the deduction, but the CIT(A) allowed a partial deduction. The Tribunal allowed the entire deduction.

What were the issues?

Whether employer/employee contributions to provident fund made after the due date but before the return filing date are allowable deductions, and whether amendments to Section 43B are retrospective.

Which sections of the Income-tax Act were involved?

Section 36(1)(va),Section 2(24)(x),Section 43(B),Section 139,Section 260A

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ITA 475/2007

* HIGH COURT OF DELHI : NEW DELHI + %

Judgment reserved on: 23.09.2008

Judgment delivered on:03.11.2008 THE COMMISSIONER OF INCOME TAX-V ..... APPELLANT Through : Ms Rashmi Chopra, Advocate

versus P M ELECTRONICS LTD

..... Respondent Through : Mr Prakash Kumar, Advocate

CORAM :

HON’BLE MR JUSTICE BADAR DURREZ AHMED HON’BLE MR JUSTICE RAJIV SHAKDHER

1.

Whether the Reporters of local papers may be allowed to see the judgment ?

Yes

2.

To be referred to Reporters or not ?

Yes

3.

Whether the judgment should be reported in the Digest ?

Yes RAJIV SHAKDHER, J.

1.

This is an appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to in short as the Act) against judgment dated 12.8.2005 in ITA No 1585/Del/2002 in respect of the assessment year 1998-99. The only issue which arises for consideration is the allowability of deduction under Section 36(1)(5a) read with Section 2(24)(x) and Section 43(B) to the assessee in respect of employer/employees contributions towards provident fund

The order continues below.

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