M/S.G.S. ATWAL & CO.(ENGG) (P)LTD.,KOLKATA vs. DCIT, CIR-11(1), KOLKATA

ITA 1008/KOL/2023Status: DisposedITAT Kolkata29 April 2024AY 2017-18Bench: SHRI SANJAY GARG (Judicial Member), SHRI RAKESH MISHRA (Accountant Member)14 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that delayed deposit of employee's PF contribution beyond the due date specified in the relevant Act is not eligible for deduction, citing the Supreme Court decision in Checkmate Services Pvt. Ltd. It also held that interest paid on delayed TDS is not an allowable expenditure.

What were the facts?

The assessee company claimed deductions for employee's PF contributions paid after the due date but before the filing of the return, and for interest paid on delayed TDS. The Assessing Officer and CIT(A) disallowed these claims.

What were the issues?

Whether delayed deposit of employee's PF contribution beyond the statutory due date is allowable as a deduction, and whether interest on delayed TDS payment is an allowable expenditure.

Which sections of the Income-tax Act were involved?

Section 36(1)(va),Section 43B,Section 201(1A)

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Income Tax Appellate Tribunal, “A” BENCH KOLKATA

Before: SHRI SANJAY GARG & SHRI RAKESH MISHRA

For Appellant: Shri Soumitra Choudhury, Advocate & Shri
For Respondent: Shri B. K. Singh, JCIT, Sr. DR
Hearing: 22.04.2024Pronounced: 29.04.2024

PER RAKESH MISHRA, ACCOUNTANT MEMBER:

Both these appeals filed by the assessee are against the separate orders of the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC) (hereinafter referred to as “the Ld. CIT(A)” vide separate orders dated 25.07.2023 which are against the assessment orders by the DCIT Circle-11(1), Kolkata u/s. 143(3) of the Income Tax Act, 1961 (hereinafter referred to as “the Act”) dated 16.12.2019 for AY 2017-18 and by the Assessing Officer, National e-Assessment Centre, Delhi dated u/s. 143(3) read with sections 143(3A) & 143(3B) o

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