M/S. FASHION MATRIX CLOTHING,BENGALURU vs. INCOME TAX OFFICER, WARD- 6(2)(1), BANGALORE

ITA 550/BANG/2021Status: DisposedITAT Bangalore14 December 2021AY 2018-199 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the amendment to Section 36(1)(va) and 43B by the Finance Act, 2021, is prospective and not applicable for the assessment year 2018-19. The assessee is entitled to deduction if the payment was made before the due date of filing the return under Section 139(1).

What were the facts?

The assessee filed its return of income declaring Rs. 61,68,312/-. The CPC processed the return under Section 143(1) and disallowed employees' contribution to PF and ESI amounting to Rs. 53,46,787/- for non-remittance within the due dates.

What were the issues?

Whether the disallowance of employees' contribution to PF and ESI made by the CPC was justified, considering the payments were made before the due date of filing the return of income. Applicability of amendments made by Finance Act, 2021.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 36(1)(va),Section 43B,Section 139(1),Section 2(24)(x)

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Income Tax Appellate Tribunal, ‘C’ BENCH : BANGALORE

Before: SHRI. CHANDRA POOJARI & SMT. BEENA PILLAI

For Respondent: Shri Vilas V Shinde, CIT (DR)

PER BEENA PILLAI, JUDICIAL MEMBER Present appeal by the assessee has been filed by assessee against the order dated 25.08.2021 passed by the National Faceless Appeal Centre (NFAC), Delhi relating to Assessment Year 2018-

19.2.

The grounds raised by the assessee are as under:

1.

The impugned order passed by the learned Commissioner of Income-tax [Appeals] u/s 250 by upholding the Intimation order of the learned assessing officer passed under Section 143[1][a] of the Act to the extent which is against the appellant is opposed to law, weight of evidence, probabilities, facts and circumstances of the Appellant's case.

2.

The appellant

The order continues below.

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