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TMI Blog2021 (7) TMI 1219X X X X Extracts X X X X X X X X Extracts X X X X ..... ion towards the gratuity funds were paid by the assessee during the year under consideration or not. If on verification the AO comes to the conclusion that the contribution were made in the year under consideration then the AO is directed to allow the benefit of 40A(7) to the assessee - while verifying above set back of contribution the AO shall afford the opportunity to the assessee and also permit him to support the contention on the basis of the documents/evidence may be advised. Accordingly, the appeal of assessee is allowed for statistically purposes. - I.T.A. No. 152/Asr/2020 - - - Dated:- 14-7-2021 - Laliet Kumar , Member ( J ) And Dr. M. L. Meena , Member ( A ) For the Appellant : P. N. Arora, Adv. For the Respondents ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,445/- as expenditure in the audited profit loss a/c out of which an amount of ₹ 19,95,569/- was paid/spent and out of these the balance amount of ₹ 2,63,876/- was duly added in the computation of income filed along- with the return of income. IV. Thus the Ld. CIT(A) did not appreciate that this amount of ₹ 263876/- has already suffered tax viewed from all the angles including the difference between the opening and closing balance i.e. ₹ 2,63,876/- (₹ 2,44,33,648/- (-) ₹ 2,41,69,772/-) was duly added back in the return of income filed by the assessee. V. The Ld. CIT(A) did not appreciate that there was no justification and reason for further addition of ₹ 19,52,569/- and the same is not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e matter be kindly remitted back to the follow of the Assessing Officer concerned for the purpose of verification of the above said fact. 3. Per contra, the LD DR the order relied upon Lower Authorities and has submitted that he has no objection if the matter setback for AO verification. 4. We have heard the rival contention of the party and perused the material available on record. In the present case, it is the case of the assessee that the assessee had made contribution towards the gratuity funds during the assessment year under consideration and therefore the assessee is entitled to the dedication liable under section 40A(7) of the Act. 5. In our view, once the assessee had made the payment during the year under consideration t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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