Date of presentation of cheque should be deemed as date of payment of employee contribution

Advertisement Sparrow Security Services Vs ITO (ITAT Amritsar) ITAT Amritsar held that date of presentation of cheque should be taken as date of payment. Accordingly, payment of employee contribution is deemed to have been made on the date of presentation of cheque. Facts- The assessee has filed return u/s 139(1) for the impugned assessment year. By passing the audit report of the assessee the return was processed by CPC u/s 143(1) and addition was made Rs.48,07,613/- for late deposit of contribution made in respect of PF & ESI u/s 36 (1)(va) of the Act. Aggrieved assessee filed an appe...