MARCO CABLES PVT. LTD., ULHASNAGAR V. ACIT- CIR. -1 , KALYAN

ITA 3689/MUM/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8332 (ITAT-MUMBAI)
• Duration Of Justice: 10 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 28-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: MAYANK P SHAH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH SMC , MUMBAI BEFORE SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER ITA NO. 368 9 /MUM/201 8 (A.Y: 2012 - 13) M/S. MARCO CABLES PVT. LTD., SHOP NO. 100, OPP. BHAI GANGARAM MARKET, MAIN ROAD, ULHASNAGAR, MUMBAI 421 005 PAN: AABCM 1540 K V. ACIT CIRCLE (1) 1 ST FL OOR, MOHAN PLAZA, WAYALE NAGAR, KHADAKPADA, KALYAN (W) - 421 301 (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI MAYANK P. SHAH DEPARTMENT BY : SHRI KAILASH KANOJIYA DATE OF HEARING : 11.02.2019 DATE OF PRONOUNCEMENT : 29 .03 .2019 O R D E R PER C. N. PRASAD (JM) 1. THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) - 2, THANE [HEREINAFTER IN SHORT LD.CIT(A)] DATED 22.03.2018 FOR THE A.Y. 2012 - 13 IN SUSTAINING THE DISALLOWANCE MADE BY THE ASSESSING OFFICER IN RESPECT OF THE EMPLOYEE S CONTRIBUTION TO WARDS PROVIDENT F UND. 2. LEARNED COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE EMPLOYEES CONTRIBUT ION TO P ROVIDENT FUND ACCOUNT WAS REM ITTED TO THE PROVIDENT FUND 2 ITA NO.3689/MUM/2018 (A.Y: 2012 - 13) M/S. MARCO CABLES PVT. LTD., ACCOUNT BEFORE DUE DATE FOR FILING OF RETURN AND T HEREFORE NO DISALLOWANCE IS WARRANTED . HE SUBMITS THAT THIS ISSUE IS SQUARELY COVERED BY THE HON'BLE BOMBAY HIGH COURT IN THE CASE OF CIT V. HINDUSTAN ORGANICS CHEMICALS LTD., ( 2014 ) [270 CTR 478] . COPY IS PLACED ON RECORD . 3. LD. DR VEHEMENTLY SUPPORTED THE OR DERS OF THE AUTHORITIES BELOW. 4. ON HEARING BOTH THE SIDES AND PERUSING THE ORDER OF THE HON'BLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT V. HINDUSTAN ORGANICS CHEMICALS LTD., (SUPRA) , I FIND THAT THE ISSUE IS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THIS DECISION WHEREIN THEIR LORDSHIPS HELD THAT , IN VIEW OF THE FACT THAT THE AMENDMENTS TO SECTION 43 B THAT WERE BROUGHT ABOUT BY THE FINA N CE ACT, 2003 WAS RETROSPECTIVE IN NATURE, THE TRIBUNAL WAS JUSTIFIED IN DELETING THE ADDITION ON ACCOUNT OF DELAYED PAYMENT OF PROVIDENT FUND OF EMPLOYEE S CONTRIBUTION. THUS , RESPECTFU LLY FOLLOWING THE SAID DECISION , I DIRECT THE ASSESSING OFFICER TO DEL ETE THE DISALLOWANCE MADE IN RESPECT OF EMPLOYEES CON TRIBUTION TO PROVIDENT F UND WHICH WAS PAID BEFORE DUE DATE FOR FILING OF RETURN. GROUNDS RAIS ED BY THE ASSESSEE ARE ALLOWED. 5. IN THE RESULT, APPEA L OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE 29 TH MARCH, 2019 SD / - (C.N. PRASAD) JUDICIAL MEMBER MUMBAI / DATED 29 / 0 3 / 201 9 GIRIDHAR , S R. PS 3 ITA NO.3689/MUM/2018 (A.Y: 2012 - 13) M/S. MARCO CABLES PVT. LTD., COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY// BY ORDER (ASSTT. REGISTRAR) ITAT, MUM