UNITED SHIPPERS LTD.,MUMBAI vs. DY CIT 3 (3), MUMBAI

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ITA 7801/MUM/2019Status: DisposedITAT Mumbai15 July 2022AY 2016-179 pages
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What did the Tribunal hold?

The Tribunal restored the issue of the Rs. 12,96,260/- liability to the AO for verification. The AO was directed to delete the addition if the assessee proved the liability was offered as income in AY 2019-20.

What were the facts?

The assessee had an outstanding liability of Rs. 12,96,260/-. The Assessing Officer (AO) treated this as cessation of liability under Section 41(1) and made an addition. The assessee claimed it was written back in AY 2019-20, but failed to provide supporting evidence.

What were the issues?

Whether an outstanding liability that the assessee intends to write back can be treated as cessation of liability under Section 41(1) by the AO. Whether delayed payment of employee's contribution to ESIC, paid before the due date of filing the return, is disallowable.

Which sections of the Income-tax Act were involved?

Section 41(1),Section 36(1)(a),Section 139

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Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

Before: SHRI ABY T VARKEY & SHRI AMARJIT SINGH

For Respondent: Ms. Vranda U. Matkari
Hearing: 05.07.2022Pronounced: 15.07.2022

आदेश की प्रतितिति अग्रेतिि/Copy of the Order forwarded to : 1. अपीलाथी / The Appellant 2. प्रत्यथी / The Respondent. 3. संबंधधत आयकर आयुक्त / The CIT(A) 4. आयकर आयुक्त(अपील) / Concerned CIT धिभागीय प्रधतधनधध, आयकर अपीलीय अधधकरण, अहमदाबाद / DR, ITAT, Mumbai 5. 6. गार्ड फाईल / Guard file.

आदेशानुसार/BY ORDER, सत्याधपत प्रधत //True Copy//

(Asst. Registrar) ITAT, Mumbai

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