Tag: disallowance u/s 43B
No under reporting of income if income assessed u/s 143(3) is same as per return processed u/s 143(1)(a) – ITAT In a recent judgment, the ITAT Delhi has held that there is no under reporting of income u/s 270A as income assessed u/s 143(3) and income determined in …
No disallowance of late deposit of PF/ESI can be made without affording opportunity to assessee to show that the said payments were made within time In a recent judgment, Hon’ble Allahabad High Court remanded disallowance of late deposit of PF/ESI made without affording opportunity to assessee to show …
“LIC Mutual Fund” not ‘Public Financial Institution’, interest payable can not be disallowed u/s 43B In a recent judgment, Hon’ble Calcutta High Court has held that “LIC Mutual Fund” is not “Public Financial Institution” u/s 43B therefore interest payable can not be disallowed on the ground of non-compliance …
TCS Payable not hit by section 43B as it can not be debited in Profit and Loss account and claimed as deduction – ITAT In a recent judgment, the ITAT Amritsar has held that TCS Payable is not hit by the provisions of section 43B of the Income …
Assessee following POCM liable to deduct TDS instead of making provisions In a recent judgment, the ITAT Delhi has held that once the assessee claims that while following percentage of completion method at 100% of the revenue of the project has been recognized, it was incumbent to also …
Disallowance u/s 43B deleted as GST payable was not debited to Profit & Loss account and was paid before due date for filing return of income. In a recent judgment, the Hon’ble ITAT has deleted disallowance u/s 43B as GST payable reported in Tax Audit Report was not …
No disallowance for delayed deposit of PF/ESI prior to judgment of Supreme Court Disallowance of u/s 36(1)(va) for delayed deposit of employees share of PF/ESI contribution prior to the judgment of Hon’ble Supreme Court being debatable, CPC could not have made adjustments u/s 143(1) – ITAT In a …
Employers contribution not covered under Supreme Court order in case of Checkmate. Payment by cheque within due date allowed by ITAT ABCAUS Case Law Citation:ABCAUS 3721 (2023) (04) ITAT Important Case Laws relied upon:Checkmate Services P. Ltd. vs CIT ABCAUS 3614 (2022) (09) SCAlom Extrusions Ltd. 185 TAXMAN …
Disallowance of belated deposit of Employees’ contribution of PF/ESI u/s 43B even if deposited before due date of ITR filing -Supreme Court settles the law ABCAUS Case Law CitationABCAUS 3614 (2023) (10) SC Important Case Laws relied upon by parties Allied Motors (P) Ltd. v Commissioner of Income …
Disallowance u/s 36(1)(va) for delayed EPF deposit. Amendment by Finance Act is prospective – ITAT ABCAUS Case Law Citation ABCAUS 3590 (2022) (05) ITAT Important case law relied referred:Azamgarh Steel & Power vs. CPCCIT vs. AIMIL Ltd. 188 Taxman 265 (Delhi)Vedvan Consultants Pvt. Ltd. vs DCITPCIT vs Pro …
