CIT v. Hero Cycles (P.) Ltd.

228 ITR 463Supreme Court of India1997#318 most cited

What is CIT v. Hero Cycles (P.) Ltd. authority for?

A point not examined on facts or in law cannot be treated as a mistake apparent on record for rectification purposes.

262

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2011 to 2026.

Also referred to as

CIT v. Hero Cycles (P.) Ltd. · Hero Cycles · 228 ITR 463 · 94 Taxmann 271 · mistake apparent on record · rectification · point not examined · facts or law · Section 143(3) · Section 14A

Also reported as

94 Taxmann 271

Sections most often in play

Section 143(3)Section 153ASection 115JBSection 14ASection 153DSection 153B(1)(b)Section 250Section 148

Issues it is cited on

section 234e(1)installation pesection 119(1)use of equipmentsection 253(2)dependent agent pesection 119(2)(a)section 44dagency peservice pefunctional analysissection 200a(1)(c)

Judgments citing CIT v. Hero Cycles (P.) Ltd.

Resonance Eduventures Limited, Kota vs. ACIT DCIT, Central Circle, Kota

In the result, all the appeals of the assessee are allowed

ITA 672/JPR/2024[2018-19]Status: DisposedITAT Jaipur10 Mar 2025AY 2018-19

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

For Appellant: Shri Mahendra Gargieya, Adv. (Thr. V.C)&For Respondent: Smt. Alka Gautam, CIT-DR
Section 143(3)Section 14ASection 153DSection 234DSection 250

…Supporting Case Laws - CBDT Instructions are binding: 3.1 The CBDT circular and instructions have been held to be binding on the Income-Tax Authorities for which a useful reference can be made to the cases of CIT v. Hero Cycles (P.) Ltd. (1997) 94 Taxman 271/228 ITR 463 (SC), wherein, it was held that circulars bind the ITO but will not bind the Court or even the Assessee. In the case of UCO Bank v. CIT (1999) 104 Taxman 547/237 ITR 889 (SC), Hon'ble Supreme Court while dealing with the legal status of such circulars, observed thus (page 896): "Such instructions may be by way of relaxation of any of the provisio…

Resonance Eduventures Limited, Kota vs. ACIT DCIT, Central Circle, Kota

In the result, all the appeals of the assessee are allowed

ITA 671/JPR/2024[2017-18]Status: DisposedITAT Jaipur10 Mar 2025AY 2017-18

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

For Appellant: Shri Mahendra Gargieya, Adv. (Thr. V.C)&For Respondent: Smt. Alka Gautam, CIT-DR
Section 143(3)Section 14ASection 153DSection 234DSection 250

…Supporting Case Laws - CBDT Instructions are binding: 3.1 The CBDT circular and instructions have been held to be binding on the Income-Tax Authorities for which a useful reference can be made to the cases of CIT v. Hero Cycles (P.) Ltd. (1997) 94 Taxman 271/228 ITR 463 (SC), wherein, it was held that circulars bind the ITO but will not bind the Court or even the Assessee. In the case of UCO Bank v. CIT (1999) 104 Taxman 547/237 ITR 889 (SC), Hon'ble Supreme Court while dealing with the legal status of such circulars, observed thus (page 896): "Such instructions may be by way of relaxation of any of the provisio…

Resonance Eduventures Limited, Kota vs. ACIT DCIT, Central Circle, Kota

In the result, all the appeals of the assessee are allowed

ITA 670/JPR/2024[2016-17]Status: DisposedITAT Jaipur10 Mar 2025AY 2016-17
For Appellant: Shri Mahendra Gargieya, Adv. (Thr. V.C)&For Respondent: Smt. Alka Gautam, CIT-DR
Section 143(3)Section 14ASection 153DSection 234DSection 250

…Supporting Case Laws - CBDT Instructions are binding: 3.1 The CBDT circular and instructions have been held to be binding on the Income-Tax Authorities for which a useful reference can be made to the cases of CIT v. Hero Cycles (P.) Ltd. (1997) 94 Taxman 271/228 ITR 463 (SC), wherein, it was held that circulars bind the ITO but will not bind the Court or even the Assessee. In the case of UCO Bank v. CIT (1999) 104 Taxman 547/237 ITR 889 (SC), Hon'ble Supreme Court while dealing with the legal status of such circulars, observed thus (page 896): "Such instructions may be by way of relaxation of any of the provisio…

Resonance Eduventures Limited, Kota vs. ACIT DCIT, Central Circle, Kota

In the result, all the appeals of the assessee are allowed

ITA 669/JPR/2024[2015-16]Status: DisposedITAT Jaipur10 Mar 2025AY 2015-16

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI GAGAN GOYAL (Accountant Member)

For Appellant: Shri Mahendra Gargieya, Adv. (Thr. V.C)&For Respondent: Smt. Alka Gautam, CIT-DR
Section 143(3)Section 14ASection 153DSection 234DSection 250

…Supporting Case Laws - CBDT Instructions are binding: 3.1 The CBDT circular and instructions have been held to be binding on the Income-Tax Authorities for which a useful reference can be made to the cases of CIT v. Hero Cycles (P.) Ltd. (1997) 94 Taxman 271/228 ITR 463 (SC), wherein, it was held that circulars bind the ITO but will not bind the Court or even the Assessee. In the case of UCO Bank v. CIT (1999) 104 Taxman 547/237 ITR 889 (SC), Hon'ble Supreme Court while dealing with the legal status of such circulars, observed thus (page 896): "Such instructions may be by way of relaxation of any of the provisio…

Manoj Tantia, New Delhi vs. DCIT, Central Circle- 25, New Delhi

In the result, appeal of the Assessee is allowed

ITA 5944/DEL/2018[2015-16]Status: DisposedITAT Delhi07 Mar 2025AY 2015-16

Bench: Shri Challa Nagendra Prasad & Shri Avdhesh Kumar Mishraआ.अ.सं/.I.T.A No.5944/Del/2024 िनधा"रणवष"/Assessment Year: 2015-16 बनाम Baani Landbase Pvt Ltd., Dcit, Corporate One, Ground Floor, Vs. Circle-4(2), Plot No.5, District Center, Jasola, Central Revenue Building, Delhi. I.P. Estate, Delhi. Pan No.Aadcb0237E अपीलाथ" Appellant ""यथ"/Respondent

Section 143(3)Section 147Section 148Section 154Section 156Section 292B

…which can be established by a long drawn process of reasoning on points on which there may be conceivably two opinions. Ld. Counsel for the assessee further placing reliance on the decision of the Apex Court in the case of CIT vs. Hero Cycles 4 Pvt. Ltd. (228 ITR 463) submitted that the Hon’ble Apex Court held that “a point which was not examined on facts or in law cannot be dealt with as a mistake apparent on record”. Reliance was also placed on the decision of the jurisdictional High Court in the case of CIT vs. Hindustan Cycles & Tubes Ltd. (147 Taxman 555) and the Hon’ble Madras High Court in the case of…

Micro Focus Software Inc., Usa vs. The Deputy Commissioner of Income-Tax, Circle 3(2)(2), International Taxation, Mumbai

In the result, the appeal is allowed

ITA 4768/MUM/2023[2021-22]Status: DisposedITAT Mumbai06 Sept 2024AY 2021-22

Bench: Ms. Kavitha Rajagopal & Smt. Renu Jauhrimicro Focus Software Inc. V/S. Dcit,(International Tax) बनाम (Formerly Known As Novell Circle 3(2)(2), Inc.) 16Th Floor, Air India Laurel, Block D, 65/2, Building, Nariman Point, Bagmane Tech Park, C. V. Mumbai-400021 Raman Nagar, Byrasandra, Bangalore, Karnataka, India- 560093 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aabcn5034F Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Ketan VedFor Respondent: Shri Anil Sant
Section 143(3)Section 144C(5)Section 234ASection 270A

…istration of law by all the income-tax authorities in a specific situation and, therefore, validly issued under section 119 of the Income-tax Act. As such, the circular would be binding on the department." (p. 901) See also CIT v. Hero Cycles (P.) Ltd. [1997] 228 ITR 463 (SC). It would thus be clear that the Circular No. 23 would be binding on the Assessing Officer and had to be considered while assessing the tax liability of an assessee. The Tribunal in its judgment has not considered the effect of the finding recorded by the CIT (Appeals) based on the Circular and which circular was relevant for the purpose of…

Aviaxpert Pvt. Ltd., New Delhi vs. ITO Ward 3(1), New Delhi

In the result, appeal of the assessee is partly allowed as

ITA 87/DEL/2024[2017-18]Status: DisposedITAT Delhi09 Aug 2024AY 2017-18

Bench: Shri Challa Nagendra Prasad & Shri Brajesh Kumar Singhआ.अ.सं/.I.T.A No.87/Del/2024 िनधा"रणवष"/Assessment Year: 2017-18 बनाम Avia Xpert Pvt. Ltd. Ito, E-178, East Of Kailash, Vs. Ward 3(1), New Delhi. C.R. Building, I.P. Estate, New Delhi. Pan No. Aaica7960L अपीलाथ" Appellant ""यथ"/Respondent

Section 139(1)Section 143(1)Section 154Section 154(3)Section 36(1)(va)

…nt from record” and, therefore, no disallowance in respect of such debatable legal claim can be made while passing rectification order u/s 154 of the Act: 1. ITO vs. M/s Volkart Brothers & Ors [(1971) 82 ITR 50 (SC)] 2. CIT Vs. Hero Cycles (P) Ltd. [(1997) 228 ITR 463 (SC)] 3. CIT Vs. Krishak Bharati Co-opeative Ltd. [(2004) 266 ITR 208 (Del)(HC)] 4. Bajaj Auto Finance Ltd. vs. CIT [(2018) 404 ITR 564 (Bom) (HC)] 5. Khatau Junkar Ltd. vs. DCIT [(1992) 196 ITR 55 (Bom) (HC)]. 7. Ld. Counsel for the assessee also placed reliance on the decision of the Madhya Pradesh High Court in the case of CIT Vs. Mahavir…

Srishti Associates, Kota, Rajasthan vs. ACIT, Central Circle, Kota, Kota-Rajasthan

ITA 587/JPR/2024[2018-19]Status: DisposedITAT Jaipur16 Jul 2024AY 2018-19
Section 132Section 132(4)Section 139(1)Section 143(2)Section 153CSection 153DSection 246ASection 44A

…ents u/s 119 of the Act are certainly binding on the Department. He relied upon the decision of Hon'ble Supreme Court in the case of Commissioner of Customs vs Indian Oil Corporation Ltd. 2004 (165) E.L.T. 257 (SC) and in the case of CIT vs Hero Cycles [1997] 228 ITR 463 (SC). The ld. AR submitted that Hon'ble Orrisa High Court had quashed the Assessment Order in the case of ACIT, Circle-1 (2) Vs. Serajuddin and Co. ITA No 39, 40, 41, 42, 43, 44 & 45 of 2022 vide order dated 15-03-2023 on ground of inadequacy in procedure adopted for issuing approval u/s 153D of the Act by expressing discordant note on such mecha…

Kurukshetra Expressway Pvt Ltd, Rewari vs. DCIT Circle, Rewari

The appeal of the assessee is allowed for statistical purposes

ITA 9544/DEL/2019[2014-15]Status: DisposedITAT Delhi06 Jun 2024AY 2014-15

Bench: Shri M Balaganesh & Shri Vimal Kumarasstt. Year: 2014-15

For Appellant: Shri Neeraj Jain, AdvocateFor Respondent: Ms. Anu Krishna Aggarwal
Section 143(2)Section 143(3)

…particular manner. Reliance was placed on following binding judicial precedents:- - UCO Bank vs CIT 237 ITR 889(SC) - Keshavji Ravji and Company vs. CIT: 183 ITR1, 17 (SC); - CIT vs. Indra Industries: 248 ITR 338 (SC); - CIT vs. Honda Cycles Pvt. Ltd. & ors. 228 ITR 463(SC); - CCE vs. Ratan Melting & Wire Industries [2008 13 SCC 1](SC) So appeal may be accepted. 18. Learned representative for department submitted that the Learned AO disallowed the impugned claim of depreciation following the CBDT circular no. 9/2014 dated 23/04/2014. Hon’ble Bombay High Court, in the case of North Karnataka Expressway Ltd., wh…

DCIT, Circle-8(1), Kolkata vs. Itc Limited, Kolkata

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1223/KOL/2017[2011-12]Status: DisposedITAT Kolkata10 May 2024AY 2011-12

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…uthorities particularly in case the deduction is allowable in line with the provisions of the Act and in view of the decisions of judicial forum. These appeals have been allowed by the Hon’ble Apex Court in the case of CIT vs. Hero Cycles Pvt. Ltd. and Others 228 ITR 463 (SC) wherein it has been held that circulars are not binding on appellate authorities, Tribunal. Similarly the Hon’ble Calcutta High Court in the case of CIT vs. Swedish East Asia Co. Ltd. 127 ITR 148 (Cal) has held that the circular which disallows a benefit otherwise admissible under the Act, is not binding. Considering the facts of the case an…

DCIT, Circle-8(1), Kolkata vs. Itc Limited, Kolkata

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1222/KOL/2017[2010-11]Status: DisposedITAT Kolkata10 May 2024AY 2010-11

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…uthorities particularly in case the deduction is allowable in line with the provisions of the Act and in view of the decisions of judicial forum. These appeals have been allowed by the Hon’ble Apex Court in the case of CIT vs. Hero Cycles Pvt. Ltd. and Others 228 ITR 463 (SC) wherein it has been held that circulars are not binding on appellate authorities, Tribunal. Similarly the Hon’ble Calcutta High Court in the case of CIT vs. Swedish East Asia Co. Ltd. 127 ITR 148 (Cal) has held that the circular which disallows a benefit otherwise admissible under the Act, is not binding. Considering the facts of the case an…

Itc Limited, Kolkata vs. ACIT, Range-8, Kolkata

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1166/KOL/2017[2011-12]Status: DisposedITAT Kolkata10 May 2024AY 2011-12

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…uthorities particularly in case the deduction is allowable in line with the provisions of the Act and in view of the decisions of judicial forum. These appeals have been allowed by the Hon’ble Apex Court in the case of CIT vs. Hero Cycles Pvt. Ltd. and Others 228 ITR 463 (SC) wherein it has been held that circulars are not binding on appellate authorities, Tribunal. Similarly the Hon’ble Calcutta High Court in the case of CIT vs. Swedish East Asia Co. Ltd. 127 ITR 148 (Cal) has held that the circular which disallows a benefit otherwise admissible under the Act, is not binding. Considering the facts of the case an…

Itc Limited, Kolkata vs. ACIT, Range-8, Kolkata

In the result appeals of the assessee are partly allowed for statistical purposes and the appeals of the revenue are dismissed

ITA 1068/KOL/2017[2010-11]Status: DisposedITAT Kolkata10 May 2024AY 2010-11

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 115JSection 143(1)Section 37

…uthorities particularly in case the deduction is allowable in line with the provisions of the Act and in view of the decisions of judicial forum. These appeals have been allowed by the Hon’ble Apex Court in the case of CIT vs. Hero Cycles Pvt. Ltd. and Others 228 ITR 463 (SC) wherein it has been held that circulars are not binding on appellate authorities, Tribunal. Similarly the Hon’ble Calcutta High Court in the case of CIT vs. Swedish East Asia Co. Ltd. 127 ITR 148 (Cal) has held that the circular which disallows a benefit otherwise admissible under the Act, is not binding. Considering the facts of the case an…

Kathikode Charitable Trust, Thrissur vs. Income Tax Officer, Thrissur

In the result, the assessee’s appeals are allowed for statistical purposes, and it’s stay petitions dismissed as infructuous

ITA 948/COCH/2022[2015-16]Status: DisposedITAT Cochin10 May 2024AY 2015-16

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

For Appellant: Shri Jojo, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 11Section 11(1)(a)Section 12ASection 143(1)Section 143(3)Section 2

…t to be regard it, as it considers it to be, and as it actually is, a claim of deduction. The Board per its Circular No.14 (XL-35), dated 11.04.1955 which, being beneficial, as is trite law, binding on the Revenue [refer, inter alia, CIT v. Hero Cycles [1997] 228 ITR 463 (SC)], clarifies that the Department must not take the advantage of the ignorance of an assessee to collect more tax than what is legitimately due. This also reflects the uniform view of the Hon’ble Courts, as in Parekh Brothers v. CIT [1984] 150 ITR 105 (Ker), exhorting the Revenue to assist the tax payer in every way, particularly in the matter…

Kathikode Charitable Trust, Thrissur vs. Income Tax Officer., Thrissur

In the result, the assessee’s appeals are allowed for statistical purposes, and it’s stay petitions dismissed as infructuous

ITA 947/COCH/2022[2014-15]Status: DisposedITAT Cochin10 May 2024AY 2014-15

Bench: Shri Sanjay Arora & Ms. Kavitha Rajagopal

For Appellant: Shri Jojo, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 11Section 11(1)(a)Section 12ASection 143(1)Section 143(3)Section 2

…t to be regard it, as it considers it to be, and as it actually is, a claim of deduction. The Board per its Circular No.14 (XL-35), dated 11.04.1955 which, being beneficial, as is trite law, binding on the Revenue [refer, inter alia, CIT v. Hero Cycles [1997] 228 ITR 463 (SC)], clarifies that the Department must not take the advantage of the ignorance of an assessee to collect more tax than what is legitimately due. This also reflects the uniform view of the Hon’ble Courts, as in Parekh Brothers v. CIT [1984] 150 ITR 105 (Ker), exhorting the Revenue to assist the tax payer in every way, particularly in the matter…

The Nehru Memorial Education Society, Kanhangad vs. ITO Exemptions, Kannur

In the result, the assessee’s appeal is allowed

ITA 159/COCH/2023[2013-14]Status: DisposedITAT Cochin07 Mar 2024AY 2013-14

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmithe Nehru Memorial The Income Tax Officer Education Society (Exemptions), Kannur Lakshmi Nivas Vs. Kanhangad - 671315 Kasaragod [Pan:Aabtt0633M] (Appellant) (Respondent)

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 10Section 11(1)Section 11(1)(d)Section 12ASection 143(1)Section 143(1)(a)Section 154Section 2

…which do not admit of conceivably two views, and limiting the said view as on the basis of the record and the clear law in the matter. The law in the matter is well-settled, viz. ITO vs. Volkart Bros. [1971] 82 ITR 50 (SC); CIT v. Hero Cycles Pvt. Ltd. [1997] 228 ITR 463 (SC). That is to say, it should be a mistake and, two, glaring from the record. This, though may not be of much consequence in the instant case inasmuch as the scope for interference to the returned income u/s. 143(1)(a) is itself severely restricted, being limited to specified adjustments based on the record, i.e., the return and statements file…

Lovely Promoters Private Limited, Kolkata vs. ACIT, Central Circle, Ajmer

In the result, the appeal filed by the assessee is allowed

ITA 770/JPR/2023[2013-14]Status: DisposedITAT Jaipur08 Feb 2024AY 2013-14

Bench: him regarding non mentioning of Document Identification Number (DIN) in the body of the order u/s. 127 of the Act dated 08-09-2021 and various other technical pleas raised in grounds of appeal regarding validity of notice u/s. 148 of the Act, thereby appellate order passed by the CIT(A) is non-speaking order and deserves to be quashed. 4. On the facts and in circumstances of the case and in law, the AO erred in issuing notice u/s. 148 of the Act as it was a search related case u/s. 132 r/w

For Appellant: Shri Mayank Taparia (Adv.)For Respondent: Shri A.S. Nehra (Addl.CIT) a
Section 127Section 127(1)Section 132Section 147Section 148Section 148ASection 151Section 153C

…deemed to have never been issued. 13.1 It is also important to note about the binding nature of CBDT circular on the Income-tax Authorities for which gainful guidance is taken from the decision of Hon’ble Supreme Court in the case of CIT v. Hero Cycles [1997] 228 ITR 463 (SC) wherein it was held that circulars bind the ITO but will not bind the appellate authority or the Tribunal or the Court or even the assessee. … … 14. Considering the facts on record, perusal of the impugned order, submissions made by the Ld. Counsel and the department, CBDT circular and the judicial precedents including that of Hon’ble Suprem…

The Dy. DIT (It) 1(2), Mumbai vs. Atl Media Limited (As A Successor to Expand Fast Holdings Ltd.), Mumbai

In the result, appeal of Revenue is dismissed

ITA 3880/MUM/2007[2003-2004]Status: DisposedITAT Mumbai02 Jan 2024AY 2003-2004
For Appellant: Shri Niraj Sheth, Advocate with Shri Jai BhansaliFor Respondent: Shri Anil Sant
Section 9(1)(i)

…nistration of law by all the income-tax authorities in a specific situation and, therefore, validly issued under section 119 of the Income-tax Act. As such, the circular would be binding on the department." (p. 901) See also CIT v. Hero Cycles (P.) Ltd. [1997]228 ITR 463 (SC). It would thus be clear that the Circular No. 23 would be binding on the Assessing Officer and had to be considered while assessing the tax liability of an assessee. The Tribunal in its judgment has not considered the effect of the finding recorded by the CIT (Appeals) based on the Circular and which circular was relevant for the purpose of…

ITO Ward - 14(1), New Delhi vs. Kaka Services Pvt Ltd, New Delhi

In the result, the appeal filed by the Revenue is dismissed

ITA 5525/DEL/2019[2013-14]Status: DisposedITAT Delhi22 Dec 2023AY 2013-14

Bench: The Ld.

Section 143(1)Section 143(3)Section 14ASection 56(2)(viib)Section 68

…ath Prasad (1968) 72 ITR 194(SC). 5.4 It has been held in the following judicial citations that when the assessee company fails to discharge its onus, the A.O. is within his legitimate right to make an addition: • CIT Vs Hero Cycles Pvt. Ltd. & Others (1997) 228 ITR 463(SC). • CIT VS Stepwell Industries Ltd. & Others (1997) 228 ITR 171(SC). • Sumati Dayal Vs CIT (1995) 214 ITR 801(SC). • CGT Vs Dr. George Kuruvilla (1969) 74 ITR 328(SC). ITO vs. Kaka Services (P) Ltd. • CIT VS Joseph John (1967) 67 ITR 74 (SC). • RB Seth Champa Lal Ram Swarup Vs CIT (1965) 60 ITR 493 (SC). • CIT VS R Venkataswamy Naidu (1956) 2…

M/S Chokshi Vachhraj Makanji & Co., Junagadh vs. The Asst. Commissioner of Income Tax- Circle - 1 (1), Rajkot - Gujarat

In the result, the appeal of the assessee is dismissed

ITA 65/RJT/2023[2017-18]Status: DisposedITAT Rajkot20 Dec 2023AY 2017-18

Bench: Hri Waseem Ahmed & Shri Siddhartha Nautiyal

For Appellant: Shri Samir Jani, A.RFor Respondent: Shri Ashish Kumar Pandey, Sr. DR
Section 139Section 143(1)(a)Section 154Section 2(24)(x)Section 36Section 36(1)(va)Section 43B

…hraj Makanji & Company vs. ACIT Asst.Year –2017-18 being debatable in nature no disallowance could have been made by way of an order u/s. 154 as held by the Apex Court in the case of T.S.Balaram , ITO v. Volkart Brothers 82 ITR 50, CIT v. Hero Cycles (P) Ltd. 228 ITR 463 and Bajaj Auto Finance Ltd. v. CIT 93 taxmann.com (Bombay). The disallowance is prayed for deletion. 3) The Ld. CIT (A) erred in not appreciating that the provisions of Section 43B overrides Section 36 (1) (va) and that disallowance under Section 36 (1) (va) was applicable only if the said contribution are not remitted within the due date as spec…