Renew Your Membership by 31st October 2024! Renew Now!

April 2008

Disallowance : u/s.43B : Contribution to P.F. and ESI within two to four days after grace period, before filing of return — Amount deductible.

By K. B. Bhujle, Advocate
Reading Time 1 mins

New Page 1

1 Business expenditure : Disallowance u/s. 43B of Income-tax
Act, 1961 : A.Y. 2001-02 : Contributions to Provident Fund and Employees’ State
Insurance within two to four days after grace period but before filing return :
Amount deductible.


[CIT v. Dharmendra Sharma, 297 ITR 320 (Del.)]

Dealing with the scope of S. 43B of the Income-tax Act, 1961
for the A.Y. 2001-02, the Delhi High Court held as under :

“Contributions made towards Provident Fund and Employees’
State Insurance within 2 to 4 days after the grace period, but before filing
the return are entitled to the benefit provided u/s. 43B.”


Download PDF

You May Also Like

Refund of TDS to deductor: Circular No. 285, dated 21-10-1980: A.Ys. 2002-2003 and 2003-2004: Interest payable to IDBI not accruing to it and not liable to tax: Tax paid by petitioner by way of TDS in respect of said interest is to be refunded to petition

Film production — Amortisation of expenses — Amortisation loss computed under Rule 9A is not subject to provisions of S. 80 and S. 139 of the Act.[CIT v. Joseph Valakuzhy, (2008) 302 ITR 190 (SC)]