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TMI Blog2014 (6) TMI 108X X X X Extracts X X X X X X X X Extracts X X X X ..... to Section 43B, no disallowance u/s 43B can be made – thus, there was no reason to interfere in the order of the CIT(A) – Decided against Revenue. - I.T.A. No. 228 /AHD/2011 - - - Dated:- 16-5-2014 - Shri G. C. Gupta And Shri Anil Chaturvedi, A.M.,JJ. For the Appellant : Shri R. K. Dhanista, Sr. D.R. For the Respondent : Shri Sakar Sharma A.R. ORDER Per Shri Anil Chaturvedi,A.M. 1. This appeal is filed by the Revenue against the order of CIT(A)-V, Baroda dated 16.11.2010 for A.Y. 2007-08. 2. The facts as culled out from the material on record are as under. 3. Assessee is a firm stated to be engaged in the business of ginning and pressing of cotton. Assessee filed its return of income for A.Y. 07-08 on 22. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the amount debited included a payment of Rs. 7,83,786/- which was paid in the month of November 2007 i.e. after the close of financial year. A.O was of the view that since the amount was a liability of tax and was paid after the due date of filing of return under section 139(1), the amount cannot be allowed as deduction u/s 43B and he accordingly disallowed the same u/s. 43B of the Act. Aggrieved by the order of A.O, Assessee carried the matter before CIT(A). CIT(A) deleted the addition by holding as under:- 4.2. In appeal, it is argued that market cess payments cannot be brought within the ambit of Section 43B. It is stated that the payment under Gujarat Agricultural Produce Market Act, 1963 or Rules made thereof does not prescri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 007 and since the tax was deposited on 07.11.2007 i.e. before the due date of filing of return, no disallowance u/s. 43B can be made. . He also placed on record the copy of order of CBDT 7. We have heard the rival submissions and perused the material on record. We find that CBDT in order dated 31st October 2007 passed u/s. 119 of the Act, 1961 had allowed the return and reports of audit in the case of companies and firms to be filed up to 15th of November 2007 instead of 31st October 2007 for A.Y. 07-08. It is an undisputed fact that the year under appeal is A.Y. 07-08 and Assessee had electronically filed the Return of Income on 22.10.2007. It is also an undisputed fact that Assessee had deposited the market fees on 7th November 2007 wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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