Case Law Details
Case Name : Mahadev Cold Storage Vs Jurisdictional Assessing Officer (ITAT Agra)
Related Assessment Year : 2018-19 and A.Y. 2019-20
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Mahadev Cold Storage Vs Jurisdictional Assessing Officer (ITAT Agra)
No disallowance on late deposit of ESI and PF in section 143(1)(a) if deposited before due date of return u/s 139(1). Decision of Jurisdictional Honorable Allahabad High Court in the case of Sagun Foundry (P) Ltd. Vs CIT ( 97CCH 0160 and 145 DTR 0265) followed held to be binding on NFAC AND INCOME TAX.
FULL TEXT OF THE ORDER OF ITAT AGRA
These four appeals are filed by the assessee, feeling aggrieved by the order passed by the Commissioner of Income Tax (Appeals) National Faceless Appeal Centre Delhi on the following grounds
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The amendment made by the Finance Act, 2021 is applicable with effect from 01.04.2021 hence all the cases before above amendment is allowable.
Finance Act 2021, has made the following amendments:
Extract of Finance Act, 2021
In section 36 of the Income-tax Act, in sub-section (1), in clause (va), the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely:––
‘Explanation 2.–For the removal of doubts, it is hereby clarified that the provisions of section 43B shall not apply and shall be deemed never to have been applied for the purposes of determining the “due date” under this clause;’
In section 43B of the Income-tax Act, after Explanation 4, the following Explanation shall be inserted, namely:-
“Explanation 5.–For the removal of doubts, it is hereby clarified that the provisions of this section shall not apply and shall be deemed never to have been applied to a sum received by the assessee from any of his employees to which the provisions of sub-clause (x) of clause (24) of section 2 applies.”.