← All Phrases

“Section 2(24)”

Section References (mined)Section 2Section 2(24)1,946 judgments

The decision most relied on for Section 2(24) is CIT v. AIMIL Ltd. (321 ITR 508), cited in 1,629 judgments on BharatTax.

Leading authorities on Section 2(24)

CIT v. AIMIL Ltd.
321 ITR 508 · 2010 · High Court
1,629
citing judgments

Employee contributions to PF and ESIC, deposited beyond the due date under the respective Acts but within the due date for filing the income tax return under Section 139(1), are allowable deductions under Section 36(1)(va). Such disallowance cannot be made during processing under Section 143(1).

Checkmate Services Pvt. Ltd. v. CIT
143 Taxmann.com 178 · 2022 · Supreme Court
1,392
citing judgments

Employee contributions to provident fund and ESI deposited by an employer beyond the due dates prescribed under the respective special Acts are not allowable as a deduction under section 36(1)(va) of the Income-tax Act, 1961. Such disallowance can be made during processing under section 143(1).

CIT v. Alom Extrusions Ltd.
319 ITR 306 · 2009 · Supreme Court
1,344
citing judgments

A proviso inserted into a section to remedy unintended consequences, make the section workable, or supply an obvious omission must be read retrospectively in operation to give effect to the section as a whole.

CIT v. Gujarat State Road Transport Corporation
366 ITR 170 · 2014 · High Court
1,158
citing judgments

Employees' contributions to welfare funds, such as provident fund, are not allowable as a deduction under section 36(1)(va) if deposited beyond the due date prescribed under the respective welfare statutes, even by a single day. Such delayed deposits are not cured even if made before the income-tax return filing due date.

279 ITR 331/149 Taxman 15 (Guj.); 5. CIT v. Sabari Enterprises
298 ITR 141 · 2008 · High Court
706
citing judgments

Employee contributions to provident fund or ESI, even if deposited after the due date specified in the respective welfare statutes, are allowable as a deduction under Section 36(1)(va) if paid before the due date for filing the income-tax return. This judgment aligns the treatment of employee contributions with employer contributions under Section 43B.

(i) CIT v. Merchem Ltd.
378 ITR 443 · 2015 · High Court
631
citing judgments

Belated remittance of employees' contribution to ESI and PF, even if deposited before the due date for filing the return of income under Section 139(1), is not allowed as a deduction. This disallowance falls under Section 36(1)(va) read with Section 2(24)(x), as Section 43B applies only to employer's contributions.

CIT v. Ponni Sugars & Chemicals Ltd.
306 ITR 392 · 2008 · Supreme Court
577
citing judgments

The "Purpose Test" determines whether an incentive or subsidy is a capital or revenue receipt for income tax purposes. If the incentive's purpose is to enable an assessee to set up a new industry or make investments in capital assets, it is a capital receipt and not taxable.

CIT v. Gujarat State Road Transport Corpn
41 Taxmann.com 100 · 2014 · High Court
540
citing judgments

Employees' contributions to provident fund or other welfare funds are deductible under section 36(1)(va) only if paid by the due date specified in the respective welfare fund enactments, and section 43B does not extend this period to the income tax return filing due date under section 139(1).

Judgments citing Section 2(24)

Khosla Profil Pvt. Ltd, Mumbai vs. Comm of Income Tax (Appeasl ), Delhi

In the result, appeal filed by the assessee is allowed

ITA 550/MUM/2022[2017-18]Status: DisposedITAT Mumbai07 Oct 2022AY 2017-18

Bench: Shri Kuldip Singh & Shri Gagan Goyalkhosla Profil Private Ltd. 2, Laxmi Tower, A-Wing, 6Th Floor, Bandra Kurla Complex, Bandra (East)-400051 Pan: Aaack1791K ...... Appellant Vs. Commissioner Of Income Tax (Appeals) Mumbai. ..... Respondent Appellant By : Sh. Rahul Hakani, Adv. Respondent By : Sh. Tejinder Pal Singh, Sr. Dr Date Of Hearing : 11/07/2022 Date Of Pronouncement : 07/10/2022 Order Per Gagan Goyal, A.M:

For Appellant: Sh. Rahul Hakani, AdvFor Respondent: Sh. Tejinder Pal Singh, Sr. DR
Section 115JSection 139(1)Section 143(1)Section 143(1)(a)Section 250Section 36(1)

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “H”, MUMBAI BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI GAGAN GOYAL

Muthyala Suryababu, Bangalore vs. Income Tax Officer, Ward-1(2)(1), Bangalore

In the result, both the appeals filed by the assessee stands allowed

ITA 771/BANG/2022[2019-20]Status: DisposedITAT Bangalore06 Oct 2022AY 2019-20

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Shri Guruswamy H, ITP
Section 139(1)Section 143(1)Section 250Section 36(1)(va)Section 43B

under the provisions of the PF Act and the PF Scheme, that would have to be treated as income within the meaning of Section 2(24)(x) of the IT Act and in which case, the assessee is liable to pay tax on the said amount treating that ... received by the employer (which is actually a recovery out of salary disbursement) shall be treated as income in view of section 2(24)(x). However, it is eligible for deduction only when it is remitted on or before the "due date". Explanation 1 to section 36(1)(va) says

Muthyala Suryababu, Bangalore vs. Income Tax Officer, Ward-1(2)(1), Bangalore

In the result, both the appeals filed by the assessee stands allowed

ITA 770/BANG/2022[2018-19]Status: DisposedITAT Bangalore06 Oct 2022AY 2018-19

Bench: Smt. Beena Pillai & Shri Laxmi Prasad Sahu

For Appellant: Shri Guruswamy H, ITP
Section 139(1)Section 143(1)Section 250Section 36(1)(va)Section 43B

under the provisions of the PF Act and the PF Scheme, that would have to be treated as income within the meaning of Section 2(24)(x) of the IT Act and in which case, the assessee is liable to pay tax on the said amount treating that ... received by the employer (which is actually a recovery out of salary disbursement) shall be treated as income in view of section 2(24)(x). However, it is eligible for deduction only when it is remitted on or before the "due date". Explanation 1 to section 36(1)(va) says

M/S. Optimal Strategix Consulting Private Limited, Bangalore vs. Deputy Commissioner of Income-Tax, Circle-3(1)(1), Bangalore

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

ITA 842/BANG/2022[2018-19]Status: DisposedITAT Bangalore03 Oct 2022AY 2018-19

Bench: Shri Chandra Poojariassessment Year: 2018-19

For Appellant: N O N EFor Respondent: Shri Ganesh R. Ghale, Standing Counsel for Department
Section 139(1)Section 143(1)Section 250Section 36(1)(va)

under the provisions of the PF Act and the PF Scheme, that would have to be treated as income within the meaning of Section 2(24)(x) of the IT Act and in which case, the assessee is liable to pay tax on the said amount treating that

Shri Umesh Raosaheb Pawar, Mumbai vs. Dy Commissioner of Income Tax, Circle-3, Thane

In the result, Ground No.2

ITA 1901/MUM/2022[2018-19]Status: DisposedITAT Mumbai30 Sept 2022AY 2018-19

Bench: Shri Amit Shukla, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

For Appellant: NoneFor Respondent: Shri Manoj Sinha
Section 139(1)Section 143(1)(a)Section 36(1)(va)Section 43B

that would 5 ITA.NO. 1901/MUM/2022 (A.Y: 2018-19) Shri Umesh Raosaheb Pawar Patil have to be treated as income within the meaning of Section 2(24)(x) of the IT Act and in which case, the assessee is liable to pay tax on the said amount treating that

ACIT Cent. Cir 3(3), Mumbai vs. M/S. Aym Syntex Ltd, Mumbai

ITA 2550/MUM/2021[2014-15]Status: DisposedITAT Mumbai29 Sept 2022AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

determined as per companies Act the income as 115JB are to be determined as per companies Act the income as defined under section 2(24) of the Act has no relevance to such defined under section 2(24) of the Act has no relevance to such defined under section 2

ACIT- CC -3, Mumbai vs. Aym Syntex Ltd., Mumbai

ITA 2549/MUM/2021[2015-16]Status: DisposedITAT Mumbai29 Sept 2022AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

determined as per companies Act the income as 115JB are to be determined as per companies Act the income as defined under section 2(24) of the Act has no relevance to such defined under section 2(24) of the Act has no relevance to such defined under section 2

Aym Syntex Ltd. (Formerly Known As M/S. Welspun Syntex Ltd.), Mumbai vs. DCIT- CC- 3(4), Mumbai

ITA 2342/MUM/2021[2015-16]Status: DisposedITAT Mumbai29 Sept 2022AY 2015-16

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

determined as per companies Act the income as 115JB are to be determined as per companies Act the income as defined under section 2(24) of the Act has no relevance to such defined under section 2(24) of the Act has no relevance to such defined under section 2

M/S. Aym Syntex Ltd (Formerly Known As M/S. Welspun Syntex Ltd, Mumbai vs. DCIT -Cent Cir-3(4), Mumbai

ITA 2341/MUM/2021[2014-15]Status: DisposedITAT Mumbai29 Sept 2022AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

determined as per companies Act the income as 115JB are to be determined as per companies Act the income as defined under section 2(24) of the Act has no relevance to such defined under section 2(24) of the Act has no relevance to such defined under section 2

Aym Syntex Ltd.(Formerly Known As M/S. Welspun Syntex Ltd.), Mumbai vs. DCIT- CC- 3(3), Mumbai

ITA 2340/MUM/2021[2013-14]Status: DisposedITAT Mumbai29 Sept 2022AY 2013-14

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2013-14 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 M/S Aym Syntex Ltd. (Formerly Dcit-Central Circel-3(3), Known As M/S Welspun Syntex Ltd.), Air India Building Nariman 9Th Floor, B Wing, Trade World, Vs. Point, Senapati Bapat Marg, Lower Parel, Mumbai-400021. Mumbai-400013. Pan No. Aaacw 0489 L Appellant Respondent Assessment Year: 2014-15 Asst. Cit Cc-3(3), Central Range-3, M/S Aym Syntex Ltd., Room No. 1923, 19Th Floor, Air India 9Th Floor Trade World, Senapati Building, Nariman Point, Vs. Bapat Marg, Kmala Mills Mumbai-400021. Compound, Lower Parel, Mumbai-400011. Pan No. Aaacw 0489 L Appellant Respondent

Section 14A

determined as per companies Act the income as 115JB are to be determined as per companies Act the income as defined under section 2(24) of the Act has no relevance to such defined under section 2(24) of the Act has no relevance to such defined under section 2

Slum Rehabilitation Authority, Mumbai vs. The ACIT(Exemption) Circle-2, Mumbai

In the result, all the appeals by the assessee are allowed for statistical purpose

ITA 1998/MUM/2020[2016-17]Status: DisposedITAT Mumbai28 Sept 2022AY 2016-17

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

Section 10Section 10(20)Section 11Section 12ASection 250

trading transactions where consideration for sale of goods takes place. In fact the income as defined under the Income Tax Act under section 2(24) is inclusive of various profit and gains, Capital Gains, voluntary contributions and any sums chargeable to income tax. Further, the income' appearing

Slum Rehabilitation Authority, Mumbai vs. DCIT (E)-2(1), Mumbai

In the result, all the appeals by the assessee are allowed for statistical purpose

ITA 700/MUM/2019[2015-16]Status: DisposedITAT Mumbai28 Sept 2022AY 2015-16

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

Section 10Section 10(20)Section 11Section 12ASection 250

trading transactions where consideration for sale of goods takes place. In fact the income as defined under the Income Tax Act under section 2(24) is inclusive of various profit and gains, Capital Gains, voluntary contributions and any sums chargeable to income tax. Further, the income' appearing

Slum Rehabilitation Authority, Mumbai vs. DDIT (E)-2(1), Mumbai

In the result, all the appeals by the assessee are allowed for statistical purpose

ITA 2075/MUM/2018[2010-11]Status: DisposedITAT Mumbai28 Sept 2022AY 2010-11

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

Section 10Section 10(20)Section 11Section 12ASection 250

trading transactions where consideration for sale of goods takes place. In fact the income as defined under the Income Tax Act under section 2(24) is inclusive of various profit and gains, Capital Gains, voluntary contributions and any sums chargeable to income tax. Further, the income' appearing

Slum Rehabilitation Authority, Mumbai vs. DCIT (E)-2(1), Mumbai

In the result, all the appeals by the assessee are allowed for statistical purpose

ITA 1077/MUM/2018[2014-15]Status: DisposedITAT Mumbai28 Sept 2022AY 2014-15

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

Section 10Section 10(20)Section 11Section 12ASection 250

trading transactions where consideration for sale of goods takes place. In fact the income as defined under the Income Tax Act under section 2(24) is inclusive of various profit and gains, Capital Gains, voluntary contributions and any sums chargeable to income tax. Further, the income' appearing

Slum Rehabilitation Authority, Mumbai vs. DDIT (E)-2(1), Mumbai

In the result, all the appeals by the assessee are allowed for statistical purpose

ITA 5086/MUM/2017[2013-14]Status: DisposedITAT Mumbai28 Sept 2022AY 2013-14

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

Section 10Section 10(20)Section 11Section 12ASection 250

trading transactions where consideration for sale of goods takes place. In fact the income as defined under the Income Tax Act under section 2(24) is inclusive of various profit and gains, Capital Gains, voluntary contributions and any sums chargeable to income tax. Further, the income' appearing

Slum Rehabilitation Authority, Mumbai vs. ITO 29(1)(1), Mumbai

In the result, all the appeals by the assessee are allowed for statistical purpose

ITA 2240/MUM/2016[2012-13]Status: DisposedITAT Mumbai28 Sept 2022AY 2012-13

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

Section 10Section 10(20)Section 11Section 12ASection 250

trading transactions where consideration for sale of goods takes place. In fact the income as defined under the Income Tax Act under section 2(24) is inclusive of various profit and gains, Capital Gains, voluntary contributions and any sums chargeable to income tax. Further, the income' appearing

Slum Rehabilitation Authority, Mumbai vs. DDIT (E) 1(2), Mumbai

In the result, all the appeals by the assessee are allowed for statistical purpose

ITA 1806/MUM/2015[2011-12]Status: DisposedITAT Mumbai28 Sept 2022AY 2011-12

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

Section 10Section 10(20)Section 11Section 12ASection 250

trading transactions where consideration for sale of goods takes place. In fact the income as defined under the Income Tax Act under section 2(24) is inclusive of various profit and gains, Capital Gains, voluntary contributions and any sums chargeable to income tax. Further, the income' appearing

Bharat Silks, Bangalore vs. National E-Assessment Centre, Delhi

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

ITA 683/BANG/2022[2018-19]Status: DisposedITAT Bangalore28 Sept 2022AY 2018-19
For Respondent: Shri Joseph Varghese
Section 139(1)Section 143(1)Section 250Section 36Section 36(1)(va)Section 43B

under the provisions of the PF Act and the PF Scheme, that would have to be treated as income within the meaning of Section 2(24)(x) of the IT Act and in which case, the assessee is liable to pay tax on the said amount treating that

Enmas India Private Limited, Tiruvallur vs. DCIT, CPC, Bangalore

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 714/CHNY/2022[2020-2021]Status: DisposedITAT Chennai26 Sept 2022AY 2020-2021

Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./I.T.A. No.714/Chny/2022 िनधा"रण वष"/Assessment Year: 2020 -21 M/S. Enmas India Private Limited, The Deputy Commissioner Of Sp 107, Eom Square Ambattur, Vs. Income Tax, Ambattur Indl. Estate S.O., Tiruvallur, Cpc, Bengaluru 560 500. Tamil Nadu 600 058. [Pan:Aabce4825F] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Zakir Hussain, C.A. & Shri Sriraj Gokavarapu, C.A. ""थ" की ओर से/Respondent By : Shri K.N. Dhandapani, Addl. Cit सुनवाई की तारीख/ Date Of Hearing : 26.09.2022 घोषणा की तारीख /Date Of Pronouncement : 26.09.2022 आदेश /O R D E R Per V. Durga Rao: This Appeal Filed By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), New Delhi Dated 03.08.2022 Relevant To The Assessment Year 2020-21. 2. Brief Facts Of The Case Are That The Assessee Filed Its Return Of Income For The Assessment Year 2020-21 On 16.12.2020 Declaring The Total Income At ₹.4,77,23,830/-. The Cpc, Bengaluru Has Completed The 2

For Appellant: Shri Zakir Hussain, C.A. &For Respondent: Shri K.N. Dhandapani, Addl. CIT
Section 139(1)Section 143(1)Section 36Section 43B

date of filing of return of income u/s.139(1) of the Act, the same is allowable as deduction as per the provisions of Section 2(24)(x) r.w.s. 36(1)(va) r.w.s. 43B of the Act 6.3 Now, the question arises, whether by the Finance Act, 2021, the provisions

M/S, Madras Hydraulic Hose Pvt Ltd, Chennai vs. DCIT, Corporate Circle-4(1), Chennai

Appeal is allowed

ITA 702/CHNY/2022[2020-21]Status: DisposedITAT Chennai26 Sept 2022AY 2020-21

Bench: Hon’Ble Shri Mahavir Singhand Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri. Saroj Kumar Parida (Advocate) – Ld. ARFor Respondent: Shri AR V Sreenivasan (Addl. CIT) –Ld. DR
Section 139(1)Section 154Section 2(24)(x)Section 36(1)(va)Section 43B

respect of sum belatedly paid towards employee contribution and therefore, for considering such question, application of section 36(1)(va) read with section 2(24)(x) alone is proper course. It was further held that though an amendment has been introduced to Section 43B, whereby actual date of payment