| Court: | Mumbai Tribunal |
| Head Notes: | S. 143(1) : Assessment -Adjustment based on Audit report – Employees contribution to provident fund-Amendment in Finance Bill 2021-Adjustment is not justified. [S. 2(24(x), 36(1)(va), 43B] Allowing the appeal of the assessee the Tribunal held that adjustment made by the CPC on the basis of Audit report is not valid as it is contrary to the ratio laid down by the Jurisdictional High Court, wherein the High Court held that payment made before due date of filing of return is allowable as deduction. (CIT v. Hindusthan Organic Chemicals Ltd. (2014) 366 ITR 1 (Bom.)(HC), CIT v. Ghadge Patil Transports Ltd. (2014) 368 ITR 749 (Bom)(HC). Tribunal held that no adjustment can be made contrary to judicial decisions. Relied on Union Public Service Commission v. Babu Prasad Sarangi and Ors. (2021) 4 SCC 516. (ITA No. 1785/Mum/2021 dt. 27-4-2022) (AY. 2018-19) Kalpesh Synthetics Pvt. Ltd. v. Dy. CIT (Mum.)(Trib.) www.itatonline.org Kalpesh Synthetics Pvt. Ltd. v. Dy. CIT (Mum.)(Trib.) www.itatonline.org |
| Law: | Income-Tax Act |
| Section(s): | 143(1) |
| Counsel(s): | Shri Bhupendra Shah, C.A. |
| Dowload Pdf File | Click here to download the file in pdf format |
| Uploaded By | ITAT ONLINE |
| Date of upload: | May 2, 2022 |
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