“approved superannuation fund”

Chapter I - PreliminarySection 2 - DefinitionsSection 2(6) / Part B of Fourth Schedule / ITR Part A-OI65 judgments

The decision most relied on for approved superannuation fund is CIT v. Sirpur Paper Mills (237 ITR 41), cited in 24 judgments on BharatTax.

Leading authorities on approved superannuation fund

CIT v. Sirpur Paper Mills

237 ITR 41 · 1999 · Supreme Court

citing judgments

The amplitude of a deduction permitted by a section cannot be cut down by imposing conditions that rewrite the section.

CIT v. L.W. Russel

53 ITR 91 · 1964 · Supreme Court

citing judgments

Payments made by an employer towards pension or annuity schemes are not taxable as perquisites in the hands of the employee unless the employee has acquired a vested right in the sum paid. Similarly, employer contributions to approved superannuation funds are not perquisites if the employee has no vested right.

Judgments citing approved superannuation fund

Mahanagar Telephone Nigam Ltd., New Delhi vs. ACIT, New Delhi

In the result, the appeal filed by the appellant stands allowed

ITA 1589/DEL/2015[2006-07]Status: DisposedITAT Delhi29 Mar 2023AY 2006-07

Bench: Shri Anil Chaturvedi & Shri N.K. Choudhryassessment Year: 2006-07 Mahanagar Telephone Nigam Versus Acit, Ltu, Ltd., Lodhi Road, New Delhi New Delhi. Pan: Aaacm0828R (Appellant) (Respondent)

For Appellant: Sh. Aman Garg, Ld. CAFor Respondent: Ms. Sarita Kumar, Ld. CIT/DR

Section 115WSection 143(3)Section 250Section 263Section 271(1)(d)

dated 30-03-2012 u/s. 263 of the Act, whereby the Fringe Benefit on account of contribution made by the Appellant to an approved superannuation fund liable for Fringe Benefit Tax during the year was determined to the tune of Rs.4522.91 million instead of Rs.3227.49 million as assessed

Dhanesh Jayantilal Chokshi, Vadodara vs. DCIT CPC, Bengalaru

In the result, the grounds of appeal raised by the assessee is allowed

ITA 59/SRT/2022[2017-18]Status: DisposedITAT Surat09 Feb 2023AY 2017-18

Bench: Shri Pawan Singhdhanesh Jayantilal Chokshi, Ito- Ward 2(5), Bharuch, B-17, Jash Villa, Satsang Gujarat / Vs. Bungalows, Old Padra Road, Cpc Bangalore . Vadodara, Gjuarat-390020. Bcmehta_05@Yahoo.Com Ph;942744114204 Pan No. Acapc 0450 E Appellant/ Assessee Respondent/ Revenue

Section 10(14)Section 143(1)(a)Section 154Section 17(2)Section 254(1)

conveyance maintenance reimbursement expenses (CMRE) which is exempt under section 10(14) (i) and balance of Rs. 85,319/- employer’s contribution to approved superannuation fund not be treated as ITA 59/Srt/2022 Dhanesh Jayantilal Chokshi Vs DCIT (CPC) perquisite under section 17(2). The reply of assessee was not accepted ... order of ld CIT(A). On the issue of adjustment of Rs. 85,319/- on account of employer’s contribution towards approved superannuation fund the assessee relied on the decision of Hon’ble Apex Court in CIT Vs L.W. Russel (53 ITR 91-SC) and submitted that such employer contribution

Span Intermediates Pvt. Ltd, Mumbai vs. ITO WD 2(3) (1), Mumbai

In the result, Ground No.3 of the assessee is allowed subject to submission of certified documents mentioned above

ITA 1917/MUM/2021[2018-19]Status: DisposedITAT Mumbai12 Sept 2022AY 2018-19

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyalspan Intermediates Pvt. Ltd. 6Th Floor, Jash Chambers, Mustafa Building, Sir Phiroz Shah Mehta Road, Mumbai-400001. Pan: Aabcs6103Q ...... Appellant Vs. Ito, Ward-2(3)(1) Aayakar Bhavan, M.K. Road, Mumbai-400020. ..... Respondent Appellant By : Sh. Sanjiv M. Shah Respondent By : Sh. Pramod Nikalje Date Of Hearing : 16/06/2022 Date Of Pronouncement : 12/09/2022 Order Per Gagan Goyal, A.M: This Appeal By The Assessee Is Directed Against The Order Of National Faceless Appeal Centre, Delhi [Hereinafter Referred To As [‘Nfac’] Dated 26.08.2021 Passed Under Section 250 Of The Income Tax Act, 1961 (Hereinafter Referred To As [‘The Act’] For The Assessment Year (Ay) 2018-19. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Sh. Sanjiv M. ShahFor Respondent: Sh. Pramod Nikalje

Section 139(1)Section 142(1)Section 143(2)Section 244ASection 250Section 28Section 36(1)(iv)Section 438Section 43B

section 28 - (iv) any sum paid by the assessee as an employer by way of contribution towards a recognised provident fund or an approved superannuation fund, subject to such limits as may be prescribed for the purpose of recognising the provident fund or approving the superannuation fund, as the case ... filed by the assessee dated 14.06.2022. To decide the matter, we need to take cognizance of Part-XII, Recognized Provident Funds, Part-XIII, Approved Superannuation Funds and Part-XIV Gratuity Funds. 6. Rule-75 deals with limit for contribution in Recognized Provident Funds, Rule-87 deals with Ordinary Annual Contributions

Manoj Kumar, Gurgaon vs. ACIT, Circle-62(1), New Delhi

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

ITA 978/DEL/2018[2014-15]Status: DisposedITAT Delhi02 Mar 2021AY 2014-15

Bench: Shri Bhavnesh Saini & Shri O.P. Kant[Through Video Conferencing]

Section 143(3)

paid by the assessee as an employer by way of contribution towards a recognised provident fund or an approved superannuation fund, subject to such limits as may be prescribed for the purpose of recognising the provident fund or approving the superannuation fund, as the case may be; and subject

Yoshio Kubo vs. Commissioner of Income Tax

The appeals are disposed of accordingly

ITA - 441 / 2003HC Delhi31 Jul 2013

contract for an annuity. 2013:DHC:3744-DB ITA 441/2003 and connected cases Page 24 However, sums payable to recognised provident funds or approved superannuation funds, and certain other specified funds are exempt. 5) Value of any other fringe benefit as prescribed (excluding fringe benefits subjected to the Fringe Benefit ... also argued that to fall outside the mischief of the provision, the contribution had to be to a “recognized provident fund or an approved superannuation fund or a Deposit-linked Insurance Fund established under section 3G of the Coal Mines Provident Fund and Miscellaneous Provisions