Sri Saarbati Steel Tubes Ltd., CHENNAI V. ACIT, CHENNAI

CO 112/CHNY/2011

• Counselvise Citation: [2011] 122 COUNSELVISE.COM (IT) 6335 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 14 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 19-09-2011
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 05-07-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: A K JAIN
• Assessee Lawyers: SANJAY V R DESHMUK H IRS J
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI BEFORE DR. O.K.NARAYANAN, VICE-PRESIDENT AND SHRI GEORGE MATHAN, JUDICIAL MEMBER ITA NO.1012(MDS)/2011 & CO NO.112(MDS)/2011 ASSESSMENT YEAR: 2007-08 THE ASSISTANT COMMISSIONER OF INCOME-TAX, COMPANY CIRCLE VI(4), CHENNAI. VS. M/S.SRI SAARBATI STEELS LTD., 163/1, K SONS COMPLEX, PRAKASAM RD., CHENNAI-108 PAN AABCS0224N. (APPELLANT) (R ESPONDENT/CROSS OBJECTOR) APPELLANT BY : SHRI SANJAY V.R.DESHMUK H, IRS, JCIT-DR RESPONDENT BY : SHRI A.K.JAIN. FCA. DATE OF HEARING : 19 TH SEPTEMBER, 2011 DATE OF PRONOUNCEMENT : 19 TH SEPTEMBER, 2011 O R D E R PER DR.O.K.NARAYANAN, VICE-PRESIDENT: THIS APPEAL IS FILED BY THE REVENUE AND THE CROSS OBJECTION IS FILED BY THE ASSESSEE. THE RELEVANT A SSESSMENT YEAR IS 2007-08. THE APPEAL AND THE CROSS OBJECTIO N ARE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF I NCOME- TAX(APPEALS)-V AT CHENNAI DATED 11-2-2011 AND ARISE OUT OF THE - - ITA NO.1012 & CO NO.112 OF 2011 2 ASSESSMENT COMPLETED UNDER SECTION 143(3) OF THE IN COME-TAX ACT, 1961. 2. THE ONLY ISSUE RAISED IN THE APPEAL FILED BY TH E REVENUE IS THAT THE COMMISSIONER OF INCOME-TAX(APPE ALS) HAS ERRED IN DELETING THE ADDITION MADE UNDER SECTION 4 3B OF THE INCOME-TAX ACT, 1961 IN RESPECT OF DELAYED PAYMENT OF EMPLOYEES CONTRIBUTION TOWARDS PF AND ESI OF ` 12,04,280/- AND ` 1,66,965/- RESPECTIVELY. 3. THE DECISION OF THE COMMISSIONER OF INCOME- TAX(APPEALS) IS SUPPORTED BY THE JUDGMENTS OF THE H ONBLE SUPREME COURT RENDERED IN THE CASE OF ALLIED MOTORS P. LTD. VS. CIT, 224 ITR 677 AND IN THE CASE OF CIT VS. ALOM EX TRUSIONS LTD., 319 ITR 306. THE AMENDMENT BROUGHT IN BY THE FINANCE ACT, 2003 IS RETROSPECTIVE IN EFFECT AND ANY PAYMEN TS TOWARDS ESI AND PF CONTRIBUTIONS MADE BEFORE THE DUE DATE O F FILING OF THE RETURN ARE TO BE ALLOWED AS EXPENDITURE DE HORS , SECTION 43B. ACCORDINGLY THE GROUND RAISED BY THE REVENUE FAILS. 4. THE CROSS OBJECTION FILED BY THE ASSESSEE SEEKS TO SUPPORT THE ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS). THEREFORE IT IS ALSO LIABLE TO BE DISMISSED. - - ITA NO.1012 & CO NO.112 OF 2011 3 5. IN RESULT THE APPEAL AS WELL AS THE CROSS OBJEC TION ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON MONDAY, THE 19 TH OF SEPTEMBER, 2011 AT CHENNAI. SD/- SD/- (GEORGE MATHAN) (DR. O.K.NARAYANAN) JUDICIAL MEMBER VICE-PRESIDENT CHENNAI, DATED THE 19 TH SEPTEMBER, 2011. V.A.P. COPY TO: (1) APPELLANT (2) RESPONDENT (3) CIT (4) CIT(A) (5) D.R. (6) G.F.