KAY SWITCGEARS INDIA PRIVATE LIMITED,KAPURTHALA vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4, JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.23/Asr/2023 Assessment Year: 2019-20 Ess Ess Kay Engineering Co. Vs. Nfac, Delhi/C/O Asstt. Pvt. Ltd. Factory Area, Commissioner Of Income Jalandhar. Tax Circle-4, Jalandhar. [Pan: Aaace5057G] (Respondent) (Appellant)

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

ESS ESS KAY ENGINEERING COMPAY PRIVATE LIMITED ,KAPURTHALA vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-4, JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjeei.T.A. No.23/Asr/2023 Assessment Year: 2019-20 Ess Ess Kay Engineering Co. Vs. Nfac, Delhi/C/O Asstt. Pvt. Ltd. Factory Area, Commissioner Of Income Jalandhar. Tax Circle-4, Jalandhar. [Pan: Aaace5057G] (Respondent) (Appellant)

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

SHRI SACHIN KAPUR,JALANDHAR vs. INCOME TAX OFFICER WARD 3 (2), JALANDHAR

In the result, ITA No. 261/Asr/2022 is dismissed and ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

M/S. RAMCO ENGG WORKS ,JALANDHAR vs. INCOME TAX OFFICER WARD- 1 (1), JALANDHAR

In the result, ITA No. 261/Asr/2022 is dismissed and ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

M/S BELTEX RUBBER INDIA,JALANDHAR vs. INCOME TAX OFFICER WARD- 1 (1), JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is dismissed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

M/S BELTEX RUBBER INDIA,JALANDHAR vs. INCOME TAX OFFICER WARD - 1 (1) , JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is dismissed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

NAVODIA TIMES PRIVATE LIMITED ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, JALANDHAR

In the result, the appeal of the assessee bearing ITA 192/Asr/2022 is

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

iii) in respect of a deduction, where such deduction exceeds specified statutory limit which may have been expressed as monetary amount or percentage or ratio or fraction;' 9.3. Now we focus on clause (iv) of section 143(1)(a) which provides for 'disallowance of expenditure or increase in income indicated in the audit report but not taken into account

M/S DIAMOND RED TANNERIES,KAPURTHALA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

In the result, the disallowances confirmed by the NFAC/CIT(A) related to ITA No

Bench: Sh. N. K. Saini & Sh. Anikesh Banerjee

iii) Hon’ble Delhi Court in case of Bharat Hotels Ltd. 410 ITR 417 (Del.) (iv) Hon’ble Gujarat State Road Transport Corporation 366 ITR 170 (Gujarat)held that where assessee did not deposit employees contribution in relevant fund before the due date prescribed in Explanation to Section 36(1)(va), no deduction would be admissible even though he deposits

J.M.C PLYWOOD,GORAYA vs. INCOME TAX OFFICER WARD-3, PHAGWARA

In the result, the disallowances confirmed by the NFAC/CIT(A) related to ITA No

Bench: Sh. N. K. Saini & Sh. Anikesh Banerjee

iii) Hon’ble Delhi Court in case of Bharat Hotels Ltd. 410 ITR 417 (Del.) (iv) Hon’ble Gujarat State Road Transport Corporation 366 ITR 170 (Gujarat)held that where assessee did not deposit employees contribution in relevant fund before the due date prescribed in Explanation to Section 36(1)(va), no deduction would be admissible even though he deposits

KHALSA BAKERY ,KAPUTHALA vs. INCOME TAX OFFICER WARD -4 (2), JALANDHAR

In the result, the disallowances confirmed by the NFAC/CIT(A) related to ITA No

Bench: Sh. N. K. Saini & Sh. Anikesh Banerjee

iii) Hon’ble Delhi Court in case of Bharat Hotels Ltd. 410 ITR 417 (Del.) (iv) Hon’ble Gujarat State Road Transport Corporation 366 ITR 170 (Gujarat)held that where assessee did not deposit employees contribution in relevant fund before the due date prescribed in Explanation to Section 36(1)(va), no deduction would be admissible even though he deposits

ROYAL FURNISHER ,JAMMU vs. ASSESING OFFICER WARD- 2 (2), JAMMU

In the result appeal of the assessee bearing ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowed under section 43-B which, as stated above, was inserted with effect from 1-4-1984 ** ** ** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

ATC LOGISTICAL SOLUTIONS PRIVATE LIMITED ,DELHI vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1, AMRITSAR

In the result, appeal of the assessee ITA No

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowed under section 43-B which, as stated above, was inserted with effect from 1-4-1984 ** ** ** 22. It is important to note once again that, by the Finance Act, 2003, not only is the second proviso deleted but even the first proviso is sought to be amended by bringing about a uniformity in tax, duty, cess

M/S. KARNAIL SINGH & COMPANY,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3, JALANDHAR

In the result, both the appeals filed by the assessee are dismissed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is made for not remitting the same to the prescribed account before the due date prescribed under the PF Act. 5.2 Before proceeding further, it will be profitable to reproduce the relevant provisions of the 1961 IT Act with amendments, made from time to time, as extracted below: i. “Section 2. Definitions. In this Act, unless the context otherwise

M/S. KARNAIL SINGH & COMPANY ,JALANDHAR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3, JALANDHAR

In the result, both the appeals filed by the assessee are dismissed

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance is made for not remitting the same to the prescribed account before the due date prescribed under the PF Act. 5.2 Before proceeding further, it will be profitable to reproduce the relevant provisions of the 1961 IT Act with amendments, made from time to time, as extracted below: i. “Section 2. Definitions. In this Act, unless the context otherwise

THE HOSHIARPUR CENTRAL COPREATIVE -BANK,HOSHIARPUR vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE HOSHIARPUR, HOSHIARPUR

In the result, ground no. 1 of the assessee has not pressed, ground no-3 is

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

disallowance as made by the AO, the ld. CIT(A) observed that the assessee is not eligible in deduction of the second limb of section 36(1)(viia) of the Act which concerns itself with deduction computed @ 10% of aggregate average advance made rural branches of the assessee. To keeping in view, amended provision to section 36(1

M/S AMAR COACH BUILDERS ,JALANDHAR vs. ASSISTANT CMMISSIONER OF INCOME TAX CIRCLE-2, JALANDHAR

In the result, both the appeals of the assessees are allowed

Sections 36(va) as well as 43B vide Finance Act, 2021 to this effect but also the CBDT has issued Memorandum of Explanation that the same applies w.e.f. 1.4.2021 only. It is further not an issue that the forergoing legislative amendments have proposed employers contributions; disallowances u/s 43B as against employee u/s 36 (va) of the Act; respectively. However, keeping

SHRI SATISH KUMAR,JALANDHAR vs. INCOME TAX FFICER WARD- 3 (3), JALANDHAR

In the result, both the appeals of the assessees are allowed

Sections 36(va) as well as 43B vide Finance Act, 2021 to this effect but also the CBDT has issued Memorandum of Explanation that the same applies w.e.f. 1.4.2021 only. It is further not an issue that the forergoing legislative amendments have proposed employers contributions; disallowances u/s 43B as against employee u/s 36 (va) of the Act; respectively. However, keeping

M/S DIAMOND RED TANNERIES,KAPURTHALA vs. DEPUTY COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-1, JALANDHAR

In the result, both the appeals of the assessees are allowed

Sections 36(va) as well as 43B vide Finance Act, 2021 to this effect but also the CBDT has issued Memorandum of Explanation that the same applies w.e.f. 1.4.2021 only. It is further not an issue that the forergoing legislative amendments have proposed employers contributions; disallowances u/s 43B as against employee u/s 36 (va) of the Act; respectively. However, keeping