Contribution to PF doesn’t exceed 27% of salary and wages hence disallowance deleted: ITAT Ahmedabad

Ven Singh Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that disallowances on account of excess contribution to PF deleted since the same didn’t exceed 27% of the salary and wages in terms of rule 87 of the Income Tax Rules. Accordingly, appeal allowed to that extent. Facts- Vide the present appeal, the appellant has contested the disallowance of PF expenses. It was pointed out that same pertained to the contribution to PF made by the assessee as employer, which the AO found exceeded the statutory limit of 27% of the salary, and hence, excess was held liable to be disallowed in terms of Rule 8...