C.I.T. , Kolkata IV v. Principal Officer, M/s. Life Pharmaceuti
[Citation -2014-LL-0924-79]

Citation 2014-LL-0924-79
Appellant Name C.I.T. , Kolkata IV
Respondent Name Principal Officer, M/s. Life Pharmaceuti
Court HIGH COURT OF CALCUTTA
Relevant Act Income-tax
Date of Order 24/09/2014
Judgment View Judgment
Keyword Tags provident fund contribution
Bot Summary: Whether on the true and proper construction of the provision of Section 43B of the Income Tax Act, 1961, the Tribunal was justified in law in deleting the disallowance of E.S.I. and providend fund contributions which were made beyond the due 2 date as per Explanation of Section 36(1)(va) of the Income Tax Act, 1961 2. Whether the Second provision to Section 43B has been omitted by the Finance Act, 2003 with effect from 1.4.2004, the Learned Tribunal was justified in law in holding that the deleting of Second provision of Section 43B can be taken as with retrospective effect It is submitted by Mr.J.P.Khaitan, learned Senior Advocate for the respondent that the issues involved are covered by the judgement delivered by the Hon ble Supreme Court of India in Commissioner of Income-Tax v. Alom Extrusions Ltd. : 319 ITR 306 in favour of the assessee which is not disputed by Mr.P.K.Bhowmik, learned advocate for the appellant. Accordingly, we answer the questions in the affirmative, in favour of the assessee and against the Revenue. Urgent certified copy of this order, if applied for, be given to the parties on priority basis.


ORDER SHEET ITA 33 OF 2006 IN HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE C.I.T. KOLKATA IV Versus PRINCIPAL OFFICER, M/S. LIFE PHARMACEUTICALS(P)LTD. BEFORE: Hon'ble JUSTICE SOUMITRA PAL Hon'ble JUSTICE ARINDAM SINHA Date : 24th September, 2014. For appellant : Mr.P.K.Bhowmik,Advocate For respondent : Mr.J.P.Khaitan,Senior Advocate Mr.A.Sengupta,Advocate Mr.Bhaskar Mukherjee,Advocate Ms.D.Ghosh,Advocate Ms.D.Saha,Advocate Court : appeal was admitted on following questions : 1. Whether on true and proper construction of provision of Section 43B of Income Tax Act, 1961, Tribunal was justified in law in deleting disallowance of E.S.I. and providend fund contributions which were made beyond due 2 date as per Explanation of Section 36(1)(va) of Income Tax Act, 1961 ? 2. Whether Second provision to Section 43B has been omitted by Finance Act, 2003 with effect from 1.4.2004, Learned Tribunal was justified in law in holding that deleting of Second provision of Section 43B can be taken as with retrospective effect ? It is submitted by Mr.J.P.Khaitan, learned Senior Advocate for respondent that issues involved are covered by judgement delivered by Hon ble Supreme Court of India in Commissioner of Income-Tax v. Alom Extrusions Ltd. : 319 ITR 306 (SC) in favour of assessee which is not disputed by Mr.P.K.Bhowmik, learned advocate for appellant. Accordingly, we answer questions in affirmative, in favour of assessee and against Revenue. Hence, appeal is dismissed. Urgent certified copy of this order, if applied for, be given to parties on priority basis. (SOUMITRA PAL, J.) (ARINDAM SINHA, J.) ssaha AR(CR) C.I.T. , Kolkata IV v. Principal Officer, M/s. Life Pharmaceuti
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