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TMI Blog2013 (5) TMI 200X X X X Extracts X X X X X X X X Extracts X X X X ..... T(A) that it is a special case of its own as the assessee has a separate regulation of their own for administration of PF concerned and thus provisions of section 43B are not applicable. - the PF to permanent seasonal staff was governed by the State Government Rules. The trust created for the purpose is duly registered under the I.T. Act. By the Rules itself, the assessee was permitted to convert such contributions into members deposits and pay the stipulated interest thereon. Such interest payments having been made as per the State Government Rules are not covered u/s. 43B. Against revenue. - ITA No. 304/Del/2011 - - - Dated:- 12-4-2013 - Shri Rajpal Yadav And Shri Shamim Yahya,JJ. Sh. Prem Prakash, Mashkoor Ahmed Ms. Archana S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee as a provision in the clause (b) of section 43B clearly stipulated that any sum payable by way of contribution to provident fund was not allowable and thus addition of Rs. 68,09,589/- was made to the income of the assessee. 4. Before the Ld. Commissioner of Income Tax (A) assessee contended that the contribution to PF to permanent staff goes to UP Cane Federation Trust, Lucknow which is a recognized trust headed by Cane Commissioner, UP Government. It is constituted under the UP Cooperative Societies Act, 1965 and controlled by Cooperative Cane Union Federation and Employees PF Trust Funds Rules, 1979 through a Board of Trustees. It is emphasized by the assessee that the assessee society is directed by the Board of Trustee to re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tive Cane Union Federation and Employees PF Trust Fund Rules, 1979. Thus it is a special case of its own nature where the general treatment cannot be applicable to the assessee society as they have a separate regulation of their own for administration of PF concerned and thus provisions of section 43B of Act are irrelevant to the facts of the case. Ld. Commissioner of Income Tax (A) opined that provision of section 43B are further not attracted in this case as the assessee has not debited a sum of Rs. 68,09,589/- in the profit and loss account at all. He held that the contention raised by the assessee are factually and legally correct. Thus, he concluded that the Assessing Officer was not justified in making the addition u/s. 43B at Rs. 68, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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