Contribution to Approved Superannuation Fund Deductible if not exceeds Prescribed Limit: ITAT Kolkata

ACIT Vs Syama Prasad Mookerjee Port (ITAT Kolkata) In a recent ruling Kolkata Bench of ITAT dismissed appeal filed by the revenue on the issues of Contribution to approved Superannuation Fund to part fund the gap in Actuarial Valuation u/s 36(1)(iv) r.w.r 87 and Contribution to approved Gratuity Fund to part fund the gap in Actuarial Valuation u/s 36(1)(iv) r.w.r 103. Also, it confirmed findings of the CIT (A) on issue of Alleged belated remittance of Employee’s Contribution to Provident Fund (Sec. 36 (1) (v) Assessee is a local authority engaged in providing port services under the direct c...