2013 (12) TMI 525

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..... e record – The issue was restored for fresh decision. Disallowance u/s 36(1)(va) - Employee’s contribution towards PF and ESI – Held that:- Following assessee’s own case for A.Y. 2005-06 - Payment held within grace period are allowable under section 43B – Decided in favour of assessee.
I. P. Bansal And Rajendra Singh,JJ. For the Appellant : Ms. Vasana B. Patel For the Respondent : Shri D. K. Sinha ORDER Per I. P. Bansal, J.M This is an appeal filed by the assessee. It is directed against the order passed by Ld. CIT(A)-13, Mumbai 02/09/2010 for assessment year 2006-07. The grounds of appeal read as under: "On the facts and in the circumstances of the case: 1. The learned Commissioner of Income Tax (Appeals) erred in directing the .....

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..... g the interest charged u/s.234C and 220(2) of the Income Tax Act, 1961 being the liability to the interest denied by the Appellant." 2. At the outset it was pointed out by Ld. AR that Ground No.6 is not pressed and Ground No.1 to 3 which raises issue regarding disallowance under section 14A of the Income Tax Act,1961(the Act) and ground No.4 to 5 which relate to disallowance of belated payment made within grace period relating to PF and ESIC, both these issues are covered in favour of the assessee by the earlier decision of the Tribunal rendered in respect of assessment year 2005-06 vide order dated 15/2/2012 in ITA No.3977/Mum/10. She has placed a copy of the said decision on our record and copy was also given to Ld. DR. While deciding th .....

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..... ce the Hon'ble Jurisdictional High Court in the case of Maharashtra Seed Corporation Ltd 14 of 2010 held that payment held within grace period are allowable under section 43B, we direct the Assessing Officer to allow the amount paid within the grace period. Accordingly, the ground is considered as allowed". She submitted that both these issues should be decided accordingly as they are covered by earlier decision of the Tribunal in respect of assessment year 2005-06. 4. On the other hand Ld. DR relied upon the order passed by Ld. CIT(A). 5. After hearing both parties we find that both the issues raised in the aforementioned grounds 1 to 5 are covered in favour of the assessee. The relevant observations have already been reproduced. We pas .....

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