9911796707
TMI Blog2018 (1) TMI 145X X X X Extracts X X X X X X X X Extracts X X X X ..... al Security and Intelligence India Private Limited [2015 (7) TMI 1063 - MADRAS HIGH COURT] wherein held omission of second proviso to Section 43B and amendment to first proviso by Finance Act, 2003 are curative in nature and are effective retrospectively, i.e., with effect from 1.4.1988 i.e., the date of insertion of first proviso. If the assessee had deposited employee's contribution towards Prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /2016 for the assessment year 2010-11, raising the following substantial questions of law : "i. Whether the Appellate Tribunal was right in directing the Assessing Officer to exclude the investments made from own funds while computing the disallowance under Section 14A of the Income Tax Act, when the assessee was maintaining mixed bag of funds and failed to substantiate that as such investm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come under Section 2(24)(x) of the Income Tax Act and the same can be allowed as deduction under Section 36(1)(va) of the Income Tax Act only if it is paid before the due date under the PF Act " 2. On a perusal of the order passed by the Tribunal, we find that the Tribunal followed the decision of this Court in the case of CIT Vs. Industrial Security and Intelligence India Private Limited [T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irst Proviso by Finance Act, 2003 are curative in nature and are effective retrospectively with effect from 01.4.1988 and the date of insertion of First Proviso. The Delhi High Court in the case of CIT Vs. Amil Ltd. reported in 321 ITR 508 held that if the assessee had deposited employees contribution towards provident fund and ESI after due date as prescribed under the relevant Act, but before th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
