JAGANNATH POLYMERS LIMITED,CUTTACK vs. ACIT, CIRCLE-1(1), CUTTACK

ITA 145/CTK/2016Status: DisposedITAT Cuttack28 August 2017AY 2012-135 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that employee contributions to PF and ESI deposited before the due date of filing the return of income are allowable deductions. It also held that canteen and puja expenses incurred for employee welfare and business goodwill are deductible.

What were the facts?

The assessee claimed deductions for employee contributions to ESI and PF, and for canteen and puja expenses. The Assessing Officer disallowed these amounts due to non-compliance with deposit dates and lack of proper documentation/explanation.

What were the issues?

Whether employee contributions to PF/ESI deposited after the statutory due date but before the return filing due date are deductible. Whether canteen and puja expenses incurred for employee welfare and business goodwill are deductible.

Which sections of the Income-tax Act were involved?

Section 2(24)(x),Section 36(1)(va),Section 139(1),Section 37

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Income Tax Appellate Tribunal, CUTTACK BENCH, CUTTACK

Before: S/SHRI N.S SAINI & PAVAN KUMAR GADALE

For Appellant: Shri B.V.R.Swamy, AR
For Respondent: Shri D.K.Pradhan, DR
Hearing: 23/08

Per N.S.Saini, AM This is an appeal filed by the assessee against the order of the CIT(A)-Cuttack, dated 18.2.2016 for the assessment year 2012-2013. 2. Ground Nos.1 & 3 are general in nature and hence, require no separate adjudication by us.

3.

In Ground No.2(A), the grievance of the assessee is that the CIT(A)

erred in confirming the addition made by the Assessing Officer towards

employees contribution to ESI of Rs.54,146/- and PF of Rs.3,68,277/-.

4.

The facts are that the Assessing Officer found that the assessee has not deposited employees contribution to ESI of Rs.54,146/- and to PF of Rs.3,68,277/- within the prescribed limit given under the respective Act. Asse ssment Year : 20 12- 201 3

Therefore, the Asse

The order continues below.

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