KANCHAN TREE PLANTATION PVT. LTD.,KOLKATA vs. JCIT, RANGE-2, KOLKATA, KOLKATA

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ITA 1773/KOL/2017Status: DisposedITAT Kolkata31 October 2017AY 2011-122 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issue to the Assessing Officer for verification of the bonus payment date. If paid before the due date, the addition cannot be made.

What were the facts?

The assessee appealed against the disallowance of a bonus payment of Rs. 8,95,000. The issue was whether the bonus was paid on or before the due date of filing the return.

What were the issues?

The primary issue is the allowability of a bonus payment as a deduction, contingent on its timely payment before the due date of filing the income tax return.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘(SMC

Before: Sri J. Sudhakar Reddy, Hon’ble

This is an appeal filed by the assessee directed against the order of the ld. Commissioner of Income Tax (Appeals)-I, Kolkata (hereinafter the ‘Ld. CIT(A)’), dt. 20/06/2017, passed u/S. 250 of the Income Tax Act, 1961 (hereinafter the ‘Act’), relating to Assessment Year 2011-12, on the following grounds:- “1. The order of the learned CIT(A)-1 confirming the disallowance of Bonus of Rs.8,95,000/- is bad in law and facts.”

Assessment Year: 2011-12 Kanchan Tree Plantation PrivateLtd 2. After hearing rival contentions, I am of the opinion that the issue in question should be restored to the file of the Assessing Officer for verifying whether the bonus amount was paid on or before the due date of filing of the return by the assessee. If the amount is paid on or before the due date of filing of return, the addition in question cannot be raised.

3.

In the result, the appeal of the assessee is allowed for statistical purposes.

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