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TMI Blog2018 (3) TMI 1756X X X X Extracts X X X X X X X X Extracts X X X X ..... contribution of the said amount to the State Renewal Fund and there being a legal obligation as well in our view the Tribunal has come to a correct conclusion. - Decided in favour of assessee. Allowability of belated payment of PF ESI - Beyond due date in respective Act - Section 43 B and not by Section 36(1)(va) r.w.s. 2(24)(x) - HELD THAT:- issue is covered by decision in the case of CIT VERSUS M/S. STATE BANK OF BIKANER JAIPUR AND JAIPUR VIDYUT VITARAN NIGAM LTD. [ 2014 (5) TMI 222 - RAJASTHAN HIGH COURT] - D.B. Income Tax Appeal No. 10, 11, 12/2018 - - - Dated:- 13-3-2018 - Mr. K.S.Jhaveri And Mr. Vijay Kumar Vyas, JJ. For Appellant(s) : Mr. K. D. Mathur Mr. Prateek Kedawat on behalf of Mr. R. B. Mathur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eletion of disallowance of contribution to Energy Conservation Fund of ₹ 10000000/- as made by Assessing Officer ignoring the fact that contribution towards fund is diversion of income and not allowable u/s. 37(1) of the Income Tax Act. 2.In D.B. Income Tax Appeal No. 11/ 2018 I Whether in the facts and circumstances of the case and in law the ITAT was justified in deleting the addition of ₹ 80,00,000/- made on account of contribution made to State Renewal Fund despite the fact that it was application of income and not expenditure incurred for business expediency? II Whether in the facts and circumstances of the case and in law the ITAT was justified in deleting the addition of ₹ 395066/- ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion Ltd. [2016] 386 ITR 267 (Raj) wherein it has been held as under:- Insofar as the expenditure incurred on State Renewal Fund is concerned, said expenditure also goes to show that the renewal fund was set up by the State Government and was created with the object of providing a safety net for the workers likely to be effected by restricting in the State Public Enterprise and that a finding of fact has been recorded that the contribution made to the State Renewal fund is solely for the purposes of the welfare and benefit of the employees. In our view, it is for the assessee to decide whether any expenditure should be incurred in the course of business and expenditure of this nature being for business expediency is certainly all ..... X X X X Extracts X X X X X X X X Extracts X X X X
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