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TMI Blog2017 (9) TMI 1528X X X X Extracts X X X X X X X X Extracts X X X X ..... apoor with Mr. Sumit Lalchandani and Ms. Ananya Kapoor and Ms. Soumya Singh, Advocates ORDER C.M. No. 31677/2017 (exemption) 1. Allowed, subject to all just exceptions. C.M. No. 31676/2017 (delay) 2. For the reasons stated therein, the delay in filing the appeal is condoned. 3. The application is disposed of. ITA No. 737/2017 4. There are four issues urged by the Revenue in this appeal dir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rs. 38,02,52,097 made by the AO on account of contribution made by the Assessee to Punjab & Sind Bank Employees Pensions Fund Trust? D. Whether on facts and in the circumstances of the case Ld. ITAT was correct in law in deleting the additions to the Assessee's book profit computed u1s l l5JB of the Income Tax Act. 1961 on following counts? :- a. Rs. 35,20,25,056 made by the AO on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Consequently, the Court declines to frame any question on this issue. 6. The second issue, concerning the deletion of addition made by the AO on account of disallowance of depreciation on securities including loss on shifting of securities from AFS to HTM category, also stands covered against the Revenue by the aforementioned decision dated 12th September 2012 in ITA No. 634 of 2009. 7. The th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orders, consistently held that, although contributions to the pension funds may not be allowable under Section 36 (1) (iv) of the Act, the same is allowable under Section 37 of the Act. 8. Learned counsel for the Revenue has been unable to point out to the Court any view contrary to the one taken by the Bombay High Court. 9. It appears that although no appeal was filed by the Revenue against the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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