ACIT, Palakkad v. M/s.Sri Bhagavathi Textiles Ltd, Palakkad

ITA 55/COCH/2014 | 2001-2002
Pronouncement Date: 11-04-2014 | Result: Allowed

Appeal Details

RSA Number 5521914 RSA 2014
Assessee PAN AADCS2823D
Bench Cochin
Appeal Number ITA 55/COCH/2014
Duration Of Justice 2 month(s) 3 day(s)
Appellant ACIT, Palakkad
Respondent M/s.Sri Bhagavathi Textiles Ltd, Palakkad
Appeal Type Income Tax Appeal
Pronouncement Date 11-04-2014
Appeal Filed By Department
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 11-04-2014
Assessment Year 2001-2002
Appeal Filed On 07-02-2014
Judgment Text
1 ITA NO. 54 & 55/COCH/2014 CO NOS 18& 19/COCH/2014 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH COCHIN BEFORE SHRI N.R.S. GANESAN (JM) AND SHRI B.R. BASKA RAN(AM) I.T.A NO. 54 & 55/COCH/2014 (ASSESSMENT YEARS 2000-01 & 2001-02) A.C.I.T. CIR.1 VS M/S SRI BHAGAVATHY TEXTIL ES LTD PALAKKAD CHITTUR PALAKKAD PAN : AADCS2823D (APPELLANT) (RESPONDENT) C.O. NOS 18 & 19/COCH/2014 (ARISING OUT OF I.T.A NO. 54 & 55/COCH/2014) (ASSESSMENT YEARS 2000-01 & 2001-02) M/S SRI BHAGAVATHY TEXTILES LTD VS THE A.C.I.T. CIR.1 CHITTUR PALAKKAD PALAKKAD (APPELLANT) (RESPONDENT) REVENUE BY : SHRI K.K. JOHN SR DR ASSESSEE BY : NONE DATE OF HEARING : 08-04-2014 DATE OF PRONOUNCEMENT : 11-04-2014 O R D E R PER N.R.S. GANESAN (JM) BOTH THE APPEALS OF THE REVENUE ARE DIRECTED AGAIN ST THE RESPECTIVE ORDERS OF THE CIT(A) FOR THE ASSESSMENT YEARS 2000- 01 AND 2001-02. THE ASSESSEE HAS FILED THE CROSS OBJECTIONS. SINCE COM MON ISSUE ARISES FOR 2 ITA NO. 54 & 55/COCH/2014 CO NOS 18& 19/COCH/2014 CONSIDERATION THE APPEALS AND THE CROSS OBJECTIONS WERE HEARD TOGETHER AND ARE DISPOSED OF BY THIS COMMON ORDER. 2. NO ONE APPEARED FOR THE ASSESSEE IN SPITE OF REC EIPT OF NOTICE THROUGH R.P.A.D. THEREFORE WE HEARD THE LD.DR AND HEARD THE APPEALS AS WELL AS THE CROSS OBJECTIONS. 3. THE ONLY ISSUE ARISES FOR CONSIDERATION IS DISAL LOWANCE OF CONTRIBUTION TO PROVIDENT FUND AND ESI. 4. SHRI K.K. JOHN THE LD.DR SUBMITTED THAT THE CON TRIBUTION TO PROVIDENT FUND & ESI WAS NOT MADE WITHIN THE DUE DATE PRESCRI BED UNDER THE PROVIDENT FUND ACT. ACCORDING TO THE LD.DR FOR DE LAYED PAYMENT OF EMPLOYEES CONTRIBUTION THE ASSESSING OFFICER DISA LLOWED THE CLAIM OF THE ASSESSEE. ON A QUERY FROM THE BENCH WHETHER THE PA YMENT WAS MADE WITHIN THE DUE DATE FOR FILING THE RETURN OF INCOME U/S 139(1) OF THE ACT THE LD.DR VERY FAIRLY SUBMITTED THAT THE DATES ARE NOT AVAILABLE IN THE ORDERS OF BOTH THE AUTHORITIES BELOW. THE LD.DR VERY FAIRLY SUBMITTED THAT THE MATTER MAY BE REMANDED BACK TO THE FILE OF THE ASSESSING O FFICER FOR VERIFICATION. 3 ITA NO. 54 & 55/COCH/2014 CO NOS 18& 19/COCH/2014 5. HAVING HEARD THE LD.DR WE HAVE CAREFULLY GONE T HROUGH THE ORDERS OF LOWER AUTHORITIES AND THE MATERIALS AVAILABLE ON RECORD. SECOND PROVISO TO SECTION 43B WAS DELETED AND THE ENTIRE SUB CLAUS ES OF SECTION 43B ARE BROUGHT IN THE FIRST PROVISO TO SECTION 43B OF THE ACT. IN VIEW OF THE DELETION OF SECOND PROVISO TO SECTION 43B OF THE AC T THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THE ENTIRE PAYMENT COVERED IN SECTION 43B WOULD BE SUBJECTED TO FIRST PROVISO TO SECTION 43B OF THE ACT. IN OTHER WORDS THE PAYMENT MADE WITHIN THE DUE DATE FOR FILING THE RET URN OF INCOME U/S 139(1) HAS TO BE ALLOWED WHILE COMPUTING THE TAXABLE INCOM E OF THE ASSESSEE. THE ASSESSEE HAS FILED THE COPY OF THE JUDGMENT OF THE APEX COURT IN CIT VS ALOM EXTRUSIONS LTD (2009) 185 TAXMAN 416 (SC). THE SUPREME COURT FOUND THAT THE UNIFORMITY BROUGHT IN THE FIRST PROV ISO WHICH IS MADE APPLICABLE WITH EFFECT FROM 01-04-2004 WOULD BECOME CURATIVE IN NATURE AND HENCE IT WOULD BE RETROSPECTIVE WITH EFFECT FRO M 01-04-1988. IN VIEW OF THE JUDGMENT OF THE APEX COURT THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THE PAYMENTS MADE BY THE ASSESSEE TOWA RDS BOTH EMPLOYERS AND EMPLOYEES CONTRIBUTION TO THE PROVIDENT FUND A ND ESI SHALL BE ALLOWED IF IT IS PAID ON OR BEFORE THE DUE DATE FOR FILING THE RETURN OF INCOME U/S 139(1) OF THE ACT. SINCE THE DATE OF ACTUAL PAYMEN T IS NOT AVAILABLE ON RECORD THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THE MATTER NEEDS TO BE VERIFIED ONLY FOR THE PURPOSE OF FINDING OUT THE ACTUAL DATE OF PAYMENT. 4 ITA NO. 54 & 55/COCH/2014 CO NOS 18& 19/COCH/2014 ACCORDINGLY THE ORDERS OF THE LOWER AUTHORITIES ON THIS ISSUE ARE SET ASIDE AND THE ISSUE IS REMITTED BACK TO THE FILE OF THE A SSESSING OFFICER. THE ASSESSING OFFICER SHALL VERIFY THE ACTUAL DATE OF P AYMENT OF EMPLOYEES CONTRIBUTION TO THE PROVIDENT FUND & ESI AND IF IT IS FOUND THAT THE PAYMENT IS MADE ON OR BEFORE THE DUE DATE FOR FILING THE RE TURN OF INCOME U/S 139(1) THEN THE SAME SHALL BE ALLOWED. IN CASE THE ASSES SING OFFICER FINDS THAT THE PAYMENT IS NOT MADE ON OR BEFORE THE DUE DATE F OR FILING THE RETURN OF INCOME U/S 139(1) THEN THE SAME SHALL BE DISALLOWE D. 6. THE CROSS OBJECTIONS FILED IN SUPPORT OF THE ORD ERS OF THE CIT(A) ARE INFRUCTUOUS. 7. WITH THE ABOVE OBSERVATIONS THE APPEALS FILED B Y THE REVENUE ARE ALLOWED FOR STATISTICAL PURPOSE AND THE CROSS OBJEC TIONS FILED BY THE ASSESSEE STAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 11 TH APRIL 2014. SD/- SD/- (B.R. BASKARAN) (N.R.S. GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN DT : 11 TH APRIL 2014 PK/- 5 ITA NO. 54 & 55/COCH/2014 CO NOS 18& 19/COCH/2014 COPY TO: 1. M/S SRI BHAGWATI TEXTILES LTD MILL PREMISS VAN NAMADAI ROAD CHITTUR PALAKKAD DIST. 2. THE ACIT CIR.1 PALAKKAD 3. THE COMMISSIONER OF INCOME-TAX THRISSUR 4. THE COMMISSIONER OF INCOME-TAX(A)-V KERA BHAVAN SRV HIGH SCHOOL ROAD NEAR JEWEL JN KOCHI-11 5. THE DR (TRUE COPY) BY ORDER ASSTT. REGISTRAR INCOME-TAX APPELLATE TRIBUNAL COCHIN BENCH