SRINIVASA FASHINS PVT LTD,CHENNAI vs. ITO CORPORATE WARD-6(4), CHENNAI

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ITA 1396/CHNY/2019Status: DisposedITAT Chennai28 September 2020AY 2014-1540 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal, following the jurisdictional High Court's decision, held that the employees' contribution to PF & ESI deposited before the due date for filing the return of income is allowable as a deduction. The disallowance made by the lower authorities was set aside.

What were the facts?

The assessee deposited employees' contribution to PF & ESI after the due date prescribed by the PF/ESI Act but before the due date for filing the return of income. The Assessing Officer and CIT(A) disallowed this amount. The assessee appealed to the ITAT.

What were the issues?

Whether belated deposit of employees' contribution to PF & ESI, made before the due date of filing the return of income, is an allowable deduction.

Which sections of the Income-tax Act were involved?

Section 36(1)(va),Section 2(24)(x),Section 139(1)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(30)Show list

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Income Tax Appellate Tribunal, ‘A’ BENCH: CHENNAI

Before: SHRI RAMIT KOCHAR & SHRI DUVVURU R.L.REDDY

Hearing: 28.09.2020

आदेश क1 घोषणा खुले �यायालय म5 6दनांकः 28.09.2020 को क1 गई ।

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