2003 (5) TMI 471

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..... These cross appeals are directed against the order of Commissioner of Income-tax (Appeals)-XXI, Bombay and relate to the assessment year 1992-93. Assessing Officer disallowed the employees' and employer's contribution to PF, FPF, etc. amounting to Rs. 1,71,969. CIT(A) allowed the employer's contribution of Rs. 91,477, for which the Departmental is in appeal. He has not allowed employees' contribu .....

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..... d for the welfare of the employees shall be allowed (irrespective of the previous year in which the liability to pay such sum was incurred by the assessee according to the method of accounting regularly employed by him) only in computing the income referred to in section 28 of that previous year in which such sum is actually paid by him. 4. Second proviso to section 43B also discuss about the emp .....

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..... on even though the payments were made a few days later than the due date as reckoned for the month for which the salary was paid. In deciding this issue, the Tribunal followed the decisions rendered in the case of Hunsur Plywood Works Ltd. v. Dy. CIT [1995] 54 ITD 394 (Bang.), Madras Radiators & Pressings Ltd. v. Dy. CIT [1996] 59 ITD 515 (Mad.) and Fluid Air (India) Ltd. v. Dy. CIT [1997] 63 ITD .....

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