M/S GEMWOOD (DIVISIONSOF GMD INTERNATIONAL),ERNAKULAM vs. THE ACIT,NON-CORPORATE CIRCLE 1(1), KOCHI

Coming to the assessee’s first and foremost substantive ground challenging sec.14A r.w.r.8D disallowance of SA No.163/Coch/2023. Gemwood (Division of GMD International). Rs.4,53,683 made in the course of assessment proceedings dated 17.12.2016 as upheld in the CIT(A) order herein, the clinching fact which emerges at the outset is that the tax payer had not derived any exempt income and therefore, we quote [2015] CIT v. Corrtech Energy Pvt. Ltd. [2015] 372 ITR 97(Guj.)’ Cheminvest Ltd., v. CIT [2015] 378 ITR 33 (Del.); PCIT vs. Avantha Realty Ltd., {2024] 164 taxmann.com 376 (Cal.) to delete the same. The assessee succeeds in its first and foremost substantive ground.

The assessee's latter substantive ground challenging PF/ESI of Rs.48,217 is concerned, learned counsel vehemently submits that the same had been credited to the corresponding account before the "due" date of filing return u/s.139(1) of the Act. He could hardly rebut the fact that the hon'ble apex court's recent landmark decision in Checkmate Services (P.) Limited v. CIT (2022) 448 ITR 518 (SC) has already decided the issue against the assessee and in favour of the department that the relevant "due" date is as per the corresponding statute than that u/s.139(1) of the Act. We accordingly confirm this latter disallowance in the above terms. This, assessee's appeal SA No.194/Coch/2023 is dismissed as rendered infructuous. Ordered accordingly.