Delhi Watch Marketing P Ltd New Delhi v. Dcit Circle 7 1 New Delhi

In The Income Tax Appellate Tribunal Delhi Benches Smc New Delhi Before Shri R S Syal Vice President Ita No 5783 Del 2017 Assessment Year 2014 15 Delhi Watch Marketing P Ltd 875 1 Sant Nagar Burari New Delhi Pan Aaacd 6801 B Vs Dcit Circle 7 1 New Delhi Assessee By Shri Baldev Raj Ca Deptt By Shri Amit Jain Sr Dr Date Of Hearing 20 12 2017 Date Of Pronouncement 21 12 2017 Order This Appeal By The Assessee Arises Out Of The Order Passed By The Cit A On 21 06 2017 In Relation To The Asse Ssment Year 2014 15 2 The Only Issue Raised In This Appeal Is Against The Confirmation Of Disallowance Of Rs 4 72 722 And R S 16 075 Ita No 5783 Del 2017 2 Being The Employees Share Of Provident Fund Contr Ibution And Esi Contribution Deposited After The Due Date U Nder The Respective Acts But Within The Time Allowed For F Iling The Return Of Income U S 139 1 Of The Act 3 I Have Heard The Rival Submissions And Perused T He Relevant Material On Record I Find That The Issue Raised I N The Instant Appeal Is No More Res Integra The Honble Supreme Court In The Case Of Cit V Alom Extrusions Limited 2009 319 Itr 306 Sc Has Held That The Amendment To First Proviso And Omission Of The Seco Nd Proviso To Section 43 B By The Finance Act 2003 Is Retrospecti Ve The Honble Delhi High Court In The Case Of Cit V Aimil Limited 2010 321 Itr 508 Delhi Has Allowed Deduction In Respect Of Employees Shar E When The Amount Was Paid Before The Due Date When We Co Nsider These Two Judgments It Becomes Patent That Both The Employe Rs And Employees Contribution Are Allowable As Deduction If The Amou Nt Of Provident Fund Etc Though Belatedly But Is Paid Before The Due Date Of Filing Of Return U S 139 1 Of The Act Ita No 5783 Del 2017 3 4 Adverting To The Facts Of The Instant Case It I S Seen As An Admitted Position That The Assessee Deposited The Employees Contribution Towards Epf And Esic Before The Due Date U S 139 1 Of The Act Respectfully Following The Aforenoted Judgment Of The Honble Ju Risdictional High Court I Order For The Deletion Of The Addition 5 In The Result The Appeal Is Allowed Order Pronounced In The Open Court On 21 12 2017 Sd R S Syal Vice President Dated 21 St December 2017 Dk Copy Forwarded To 1 Appellant 2 Respondent 3 Cit 4 Cit A 5 Dr Itat Ar Itat New Delhi